I have very little colour correcting experience - and have never used anything more than the Final Cut 3-way colour corrector, which I hope to use for this task.
All of my 5D footage was shot with what was recommended as the most versatile for post i.e..
Color Tone: 0
I realize there are many factors as to how the image should be graded, however, all else being equal what are the basic manipulations I should be applying to restore more or less the Standard profile i.e..(restoring the lost sharpness, contrast, and saturation) or even better - to match the EX1 more specifically?
So far, I am using the 3-way to crush the blacks, and stretch the dynamic range + bump up the saturation, etc. it looks much better, but I am wondering if there are any other tools or simple processing I can do to get the most out of the images given my limited experience? all advice is much appreciated.
One thing to note is that the EX1 can also be heavily customized in it's menus for color rendering. So there isn't such a thing as a "standard EX1 image." They all vary based on the color matrix used, white balance, gain, f/stop, etc. Getting 5D footage to match an EX1 is a challenge and is exactly what the term "color correction" sets out to do.
Not sure what software you have access to but there are plenty of options out there to enhance your color toolset - Apple Color, Adobe Speedgrade, DaVinci Resolve are all stand alone apps dedicated to color correction/grading. If you want to get plugins Magic Bullet Looks is an option. So is there Colorista package....which I think is now owned by Red Giant. Noise Industries may have some color tools to check as well.