It works with FCP7 and edits smoother than ProRes depending on the settings you choose for raw. The only drawback is the compression, if you consider that a drawback. It requires much less computing power, it's an extremely resource efficient codec. Storage of raw is less storage than ProRes at a similar quality setting, because it's raw. 444 vs 422 depends on what you're trying to do with it. That's like trying to choose between ProRes 4444 and ProRes 422 HQ. But I'd just stick to CF Raw as you can change the debayer settings and everything for even smoother editing, then change to better debayers when doing compositing and grading. Even when not shooting raw it's great for upsampling 4:2:0 footage. It performs a chroma upsampling similar to 5DtoRGB.