I have the same problem!
I haven't installed ML yet. I have the 5D3, KB 64 1066x on it's way and now ordering another, but I can't find (and I've searched) anything about the needed SD card.
Have I got it right:
1) I need the SD card to hold the ML, while I record and switch between CF cards.
2) Someone said that the speed of the SD card effects the performance on the CF cards.
3) What if I go only CF route, when switching between them, I need to have the ML file on all of them? How about formating?
S