Its great for concerts and live events. The expanded dynamic range is of great help with the often harsh scene lights. Be sure that you know what you do when you expose though especially when using high iso. I often end up shooting things at 3200iso and expose as far right as I dear. Usually this means 3200 iso without a sign of any noise =)!
Check out these clips (unfortunately pretty bad sound) filmed with ml raw 3200 iso 70-200is at 5.6f
Another thing you need to know of is the auto shutdown of idle live view that canon does whether or not you turned of powersave in canon menu. Sticky half press shutter is a way around this or just pushing shutter halfpress button halfway down to refresh countdown timer 25mins of so into the recording.
Also: use davinci resolve for developing if you don't want your footage looking like crap =). avoid ACR.