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Shooting on 5d mark 3.  mlv with sound.  24 fps 1920x1080.  Mlvfs (default settings) to resolve 12.  camera raw set to cinema dng and color space set to bmd film.

Normal lit conditions this works great.  Low light,  shadows and or high iso and things get pretty noisy.  I read people say that hunters lut was meant to be used with under exposed footage, but if i underexpose anything in raw it looks like a low light iPhone video.

Am i missing something?  I see low light high iso videos online that look great. 

If I skip light room, acr or davincni for grading white balance etc. and go from camera (5d3) to mlvfs then go straight to compressor and create clips in say 4444 QH  then import those clips into fcpx, am i completely defeating the purpose of shooting raw?