Wish I could help, really.
I was about to but the full set new camera and housing, but they couldn't get ma a housing in time for some trips I have, so I'm staking with a 5D in ikelite.
Having used the 5D mkII briefly I found the video quality to be very good, but also limited. Since the video is basically a full auto mode with the camera in control of everything you are a little limited in what changes you can do. The metering system takes over and shifts ISO, aperture and shutter speed while the video is going. White balance is more critical since you don't have a RAW-type video file.
As a more general comment, I think few still-photographers spend enough time thinking about how a video should be structured. Sure you can just turn on the camera and let it run for a few minutes then post the result on youtube, but to make an engaging film documenting your dives is an entirely different thing. If you go out an read a book on film editing you find how much though goes into exactly how and when the shots change and how it changes our perception of the moving image.
I too don't have the 5DmkII but I want one

. I was initially intrigued by the mkII's video feature for UW stuff. After seeing many sample videos on the net I was really impressed (all topside stuff...haven't seen anything underwater).
However my lust subsided a bit when I learned that you can not auto focus while recording in LiveView mode. I guess if you are comfortable focusing in manual mode then it's not much of an issue, but for my interests I *think* I would prefer to have auto focus. I know you can go out of LiveView, auto focus on subject, go back into LiveView and record, but once in LiveView and recording you can not auto focus.
Also, for me, the most attractive aspect to shooting with a FF sensor is tapping into fast lenses for shallow DOF shots. I'm a shallow DOF who^e so the thought of having to manually focus razor thin DOF's for video doesn't get me too excited.
Of course I could stop the lens down to f/16 and not worry about DOF but then I'd wouldn't be quenching my addiction to shallow DOF

.
M_Bipartitus: You mentioned in video mode the camera selects aperture and shutter speed. I was under the impression, although again I've never had one like you did, that you could set your aperture. Didn't know that it will auto adjust the f/stop of the lens.
Also, forgive my ignorance with video, but why would the camera control shutter speed while recording video? Isn't is all at something like 30fps?