I haven't had the time to read this thread correctly, but I wonder if it has been established whether or not you can write to the USB and the SD card at the same time?
If you could do this, then in theory, and the advantage would probably only be for the 600D and 550D, you could store half a frame on a usb device, and the other half on the SD card, allowing you to store at a higher resolution, which I estimate would be 1280*720 (assuming that the combined transfer rate is 40mbps which gives you 720p on the 650D and 700D) on the 600D, maybe a stop lower to make up for the processing work requiered.
Of course this presents several issues not only for deving in ML but also client side, and how to process the video, combining info from both files into a new file. If the ML devs made this type of recording possible, assuming it is possible, then I offer to write a Windows App to process the raw files.
Edit: Also, I wouldn't rule out hooking up a SD card to the micro usb port with a card reader, or if necessary a custom card reader.
Edit2:
No it's not, you just have to offload to a computer/tablet/raspberrypi/whatever that acts as the host, thats running a program that will receive the data via PTP. One of the many complications of implementing this (alluded to by g3gg0), is the need to write this client.
I might know someone who could do this, but I can't guarantee it.