I own a Canon 60D and I'd like to be able to color grade the footage I shoot with it. In order to bypass the in-camera compression, I'm planning on using an external recorder (via the camera's HDMI-out), such as the Atomos Ninja Blade. I'm also using Magic Lantern to remove all Canon overlays. The Ninja Blade will enable me to record in 4:2:2 (ProRes/DNxHD) instead of 4:2:0 (H.264), which gives me more latitude when grading.
Here come the problems:
Using the Ninja Blade with Magic Lantern will limit the resolution of my footage to 1620*1080. That's fine by me, to be honest. What does worry me is that, although the Ninja Blade can record 10-bit, the Canon 60D can only output 8-bit…
What are the consequences? Will the grading go just fine anyway because I'm using a codec with better chroma subsampling? Is there anything else I should consider in order to make color grading my footage, ehm… easier?