hey bud,
as far as I'm aware the statement:
External recording via CF to SSD is not possible because of the bottleneck in data and processing power of the 5d Mark III.
is incorrect. The processing power is not the bottleneck, it is the inbuilt card controller (probably an IC) and the firmware that drives that. You would need to replace (at least) that part of the hardware and modify the existing firmware. I'm going to assume that the firmware that controls the IO for the CF is high level in the hardware design and can't be over-ridden / run alongside ala magic lantern.
So there is a physical limit to the data throughput.
Is the camera already attempting to write to the CF card by the time the data gets there?
The camera dumps the raw files directly to the CF, with (I think only a little) CPU involvement. There are other threads where the devs have spoken about and dismissed raw compression as being viable. Unless the CPU on that emulator thing is much faster than the DIGIC then you won't have much luck compressing the data either.
If you are an engineery type person the easiest solution would be to modify an IDE/SATA to CF adapter to be bi-directional. Even that isn't a simple task and won't allow for more speed, only more storage space.
The emulator thing could be cool if you could program it to do some post production tasks. Thats probably about it though.