Could someone tell me about the 2 video formats the Canon5d Mark iii offers?

I have the Canon 5D ii and heard about the 2 new formats the new model has and I was wondering how they compare and if I'll need more memory cards?

I am about to sell my old Canon 5Dii and get the new one but need to know what to order quickly!

Cinequipt -- Canon 5D Mk III, 5D Mk II, 7D, & 1D X Record Time Chart (http://www.cinequipt.com/help_item.aspx?id=79)

This link should be useful for you.
Quality-wise, there is a difference. I tend to only use the heavier compression format (ipb) for seminars and long events. Everything else I use All-I and it looks fantastic.

Awesome thanks!

How does the quality compare with the 5Dii?

Looks like maybe the ALL-I is way better quality and the other format is slightly lower then the 5Dii quality?

Haven't done a side by side with the mkII. Have only tested against my 7D. And I've cut tons on mkII footage. Either format on the 3 retains the characteristics that put it ahead of the mkII. Its still got little to no aliasing and the high ISO noise and color accuracy is much better than the mkII. Between the two formats on the mk3, the only way I can describe it is like going from Canon's avchd to Canon's mxf format. They both look good but the way they hold up through post is where you will start to see a difference. (crude analogy)