First off heres a few numbers...
At 512GB here is how much you can hold
RED Epic - 4K - 5:1 Compression - 23.98 = 1.31 hrs
ArriRAW - 2K - 23.98 = .45 hr
BMCC - 2.5K - 23.98 = .61 hrs
5D MK3 (Hacked) - 1080p - 23.98 = 1hr (estimated)
RED compared to everything else allows you to change compression from 3:1 all the way to 18:1 which is quite nice. Regardless just for recording you need a lot of storage, granted it is getting cheaper.
Next step transcode (unless you are editing in RAW).
Basically converting the RAW footage to ProRes, DNxHD, etc. Granted you can editing RAW in CS6 theres a bunch of shoot I've been on where theres a guy simply transcoding all the footage to ProRes during the job.
Now you have your masters in RAW, and a another copy in "viewable" form.
So lets say you recorded for a couple of hours and have 2TBs of footage, now you need 1TB to hold the ProRes footage.
Oh you really want to shoot RAW? Make an amazing ski season edit, shoot a short film, etc? Just make sure you have the storage for it.
Now for anyone thats interested for RAW on the 5D3 or possible more DSLRs in the future RAW is even worse.
I recorded 7.5 minutes for a commercial and that took up almost 60GB. Then I had to use a program for export DNG frames from the RAW footage. That took 55GB. Then I needed to load the DNGs into After Effects and export out a ProRes... 10GB... so for 7.5 minutes, 12 hours later and 125GB of storage was needed to make it possible. I could delete the master RAW files after to save space. I could delete the DNG sequences but if I want to make chance in camera RAW later I'd have to reexport the RAW file again.
So before gets too excited about RAW for their 5D/7D/Txi... theirs a huge work load behind the RAW footage.
