I use Adobe DNG converter to convert CR2 to DNG, so I can grade them in Resolve. I then further compress them with Slimraw. and I believe it compresses a further 15% or so.
The lossless compressed DNG's from SlimRaw greatly improve the performance in Resolve, especially Magic Lantern DNG's. Now that prices on SSD's are plummeting, it is not so much a problem anymore, but I used to have huge projects on External HDD and the bottleneck would be the USB Read Speeds, especially after filling more than 50% of an external HDD, the performance drop gets clear, but with Slimraw keeping the Data Rate around 50 MB/s, I have real-time playback in Resolve (with heavy grading) because the USB speed is not a bottleneck any more. (Until you are down to 20% space left).
I've been overly happy with the software, its very fast! it has saved me tons of space on HDD's, especially old projects from before Lossless compression was introduced in camera and I had a bunch of 80-100 MB/s MLV's/DNG's stored. So I went back to archived drives that were more or less filled to the brim and compressed with Slimraw, gaining on average 50% more capacity on those drives. I don't put more footage on those drives, Instead I consider them full at 50%. Leaving them at 50%, I know I have best performance from those HDD's, should I ever use some of the footage again.
Quick tip. When compressing, if you are leaving your computer or spare laptop overnight, set it to Defragment the External HDD after compression, it made a huge difference in keeping footage Real time in resolve and not getting random freezes.