My unscientific test using RAW on the 60D, off of the Vision Log and Vision Color profiles (not as detrimental in RAW as is w/ h264).
This was a shot test using the Magic Lantern early 60D code for RAW frame shooting. My main points of interest were in skin tones, resolution and latitude.
WORK NOTES
1. The RAW workflow, for those who are unfamiliar w/ RAW still photography, is a very painstaking process. It is well worth it, but it isn’t as quick and immediate as in recording video. Keep in mind, filming in RAW is NOT video, they are still frames in a sequence (just to clarify that there isn’t such a thing as RAW VIDEO in the most literal sense).
2. These were filmed at 960x408, a 2.35:1 frame crop, which lead to much longer scene filming through the 20MBps data cap limit of the 60D’s SD card buffer.
3. The frame processing was done in Lightroom 4, which consisted of white balance correction (early code has a magenta shift), recovering highlights allowing from 1-2 stops of recovery and pulling up the blacks to flatten back to the Log look setup (shot on Vision Log).
4. Finally, the frames were batch exported w/ a 1920px horizontal upscale in JPEG 100% quality, then imported as a frame sequence in premiere for editing.
5. Color grading was done via a DPX export into AE CS6 and final delivery in h.264 at 28Mbps (Blu Ray quality).
This process reminds me SO much of processing film digitally. Additionally, the 960x408 upscale gives a very similar resolution to Super 16mm film. So as a fan of films such as The Hurt Locker, Hustle And Flow, The Wrestler and Black Swan, I’ve zero problem with the high latitude, but smooth-softened look of super 16 in a digital form

The resolution is MUCH better than the h264 files and the latitude isn't even comparable. Shooting in RAW gives such a large latitude advantage, it becomes a totally different conversation altogether. Much like shooting on film, you realize you can play much more w/ the imagery and don't need to be as protective of the highlights as you do when shooting video. It's a very different mindset and a much needed upgrade.
A GIGANTIC THANK YOU to the Magic Lantern team for putting all of their efforts into this!