Thanks, Mark. I liked a your video, h264 seems to hold up pretty well. I might reconsider and change picture profile next time 
You're welcome, and yes - it's crucial that you do. In fact it's crucial that you do all of these:
1. Record with a picture profile that has zero sharpening. My settings were based on the "Faithful" profile with sharpening=0, contrast=1, saturation=2. I've not tried the CineStyle / Flaat picture profiles yet but I'll get round to testing them soon to see if they're better than ol' "faithful". I've read that they can introduce noise but I'll have to test that for myself.
2. Take your time to expose correctly. This is terribly important. My first shots - which I could have easily recovered in RAW - were lost due to clipped highlights or incorrect white balance. Things get pretty ugly quickly after that.
3. Sharpen in post.
Don't get me wrong, I'm not saying that h.264 is a match for RAW as it's not, but it certainly isn't as bad as everyone touts. My guess is that those that diss h.264 from the 5D III recorded with the Standard picture profile with sharpness, contrast and saturation set to the default settings because as I found, in some clips it's hard to tell the difference in what I shot between RAW and h.264.