Hi All,
Would someone be kind enough to tell if they know whether the new firmware in the 5d can handle 720p? I would appreciate it.

Regards,

Simon.

No, only 1080p and 640p resolutions. All the info and links are in the first post of the main thread about the firmware release:
http://www.dvinfo.net/forum/canon-eos-5d-mk-ii-hd/474845-canon-5d-mark-ii-2-0-3-firmware-24p-available-3.html#post1500040

We were hoping though and I still am, maybe future after everyone gets back up to bat?