Load up the appropriate ini file and it worked as expected.
Plain INI file loading has really only 2 disadvantages.
1. Canon has errors set up on certain parameters, to really push it it helps to patch those. On 6D it was at certain QPs and bumping the profile from what I remember.
2. You can't alter flush rates nor the GOP.
On this encoder think of it kinda like setting up x264 parameters. Apply what you know converting stuff since you pretty much are.
There doesn't even appear to be any advantages to increasing the bitrate on a 5D3 anyway.
There is *kinda*. (default) 24Mb/s IPB is frowns all around. 70-80 IPB is comparable and probably better than the ALL-I, textbook wise the all-I has to be 2x the rate of the IPB.
The flip side of this IMO is that you're still encoding the same YUV stream and you have raw despite its space drawbacks if you absolutely need it. Is the amount of tweaking worth it vs just shooting ALL-I when you need H264? Remember, the ALL-I *is* workable even by default.
On older esp SD cameras all you got was the hobbled IPB equivalent so the answer was likely yes. On the 6D since you only really get 720P raw its a maybe. Here I'm not so sure and judging by how long this has all been available and the tiny amount of testing, people aren't too interested.