Hello everyone! I just came across this news article:

http://www.dvinfo.net/news/canon-adopts-mpeg-2-full-hd-422-file-based-recording-codec.html

Already being discussed here http://www.dvinfo.net/forum/digital-video-industry-news/472115-canons-new-50mbps-mpeg-2-full-hd-4-2-2-codec.html

According to Chris' original article it definitely 100% will NOT be 35mm sensor.
Steve

First post has been replaced with link to DV Info Net's own press release.

Always, always post DV Info Net content over other sources.

Since this is not directly related to the tape-based HDV format XL H series
camcorders, please refer to the link in Steve's post above if you want to
discuss this topic. Thanks in advance,