I have done about an hour of searching and have come up with only a few definitive answers. If you wouldn't mind helping me or pointing me in the right direction, it would be greatly appreciated.

I have become quite proficient with fcp when it comes to hdv work flow. I however, have never had to cut footage off of a canon 5d mkii. I will be shooting a film for a local film festival this weekend and would like to hear any issues that I will likely run into as to weed these problems out now. I will only have 5 days to edit this piece in order to make it before the deadline and I really do not want to get hung up on technical issues.

So what is the best way to capture off of this camera and is there anything I need to know in terms of being able to edit in real time?

Also, What are some of the issues you guys initially ran into that you wish you would have know before hand.

Thanks a ton.

P.S.
The film fest challenge is focused on kids. I will have between 15 and 25 kindergartners to deal with on set, already making my life stressful.

Convert the footage to pro res. I use mpeg streamclip to batch process. Drop the clips in an fcp timeline and when it asks if you want to change the sequence settings to match the footage say yes. Then you'll be editing in a native fcp format without a ton of rendering (unless you add a bunch of effects)
Just be prepared for a bunch of your hard drive space to get eaten up ;)

If you are recording Audio externally (I hope you do, next to the 5D) Philip Bloom has a nice short video for syncing audio
Syncing audio and video shot on 5d and Zoom using FCP and Pluraleyes on Vimeo
Good luck with the shooting! It sounds like fun and exhaustion....

Robert-
Thanks a ton for the advice. I will definitely give it a try.

Luben-
We have scripted the piece so that there is only two parts with audio. Probly just two lines in fact. I am working with no budget and serious time constraints so I will probly end up just recording audio on my v1u and pulling it into my time line but I will absolutely be using pluraleyes in the future for syncing.

Thanks a ton for the advice. Any advice on recording in 24fps?