In H.264, I'd say you should use ETTR only if you find the footage noisy. The exact exposure choice for H.264 can be different from RAW though (you mentioned it - editing 8-bit data after compression is not going to be funny).
A good option would be to ETTR just as you would do in RAW (to maximize the SNR of the input data), then use ML digital ISO (the one from image fine-tuning) to get something close to your final look. In RAW, the digital ISO is ignored (you apply it in post), so ETTR ignores it completely. But for H.264, digital ISO is essential, because it's like an editing step done before the conversion to 8-bit.
A good rule of thumb is to set a full-stop ISO from Canon menu, and set your digital gain of around -0.3 or -0.5 EV. Darkening more than that will create pink highlights (but if you don't have any, or if you can fix them easily in post, just go ahead and darken a little more).
One thing to be aware of - Canon does not use any highlight recovery for JPEG/H.264 (so, depending on your white balance, around 1 stop from red and blue will get clipped). So, the exposure choice for H.264 may have to be a little darker than with RAW.