Vincent Laforet decided to make a tutorial in which he presents the ideal way to set up a Canon 5D MKII camera for video. He also believes that the settings and principles behind them (although the menus will change) will more than likely apply just as well to the new Canon 5D Mark III.
"These settings also apply to all Canon HDSLRs as well. I make sure to set up all of my cameras to the exact same picture profile and settings at the start of any shoot (and to ensure that the color temperature settings and exposure setting are identical as well) during multi-cam shoots."
Vincent found out that many professionals aren't aware of many of these settings. This is why he decided to present his.
"So here are the settings that I have used with the Canon 5D MKII - and a comparison between the standard picture profile, the profile I recommend, and the Technicolor profile with some examples on grading. (INFO on where to download the Technicolor profile - instructions on how to install from Technicolor and LUT buddy)."
Form more information make sure to read the blog post written by Vincent. You will find it here.