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One is a DSLR with video capabilities, and the other is the video camera.
Full frame vs micro 4/3s which means very shallow DOF vs more 35mm film-like DOF (as what you see in theaters)
i think its more like 20 or 30% smaller than s35Actually, my understanding is that they're about equally different from your standard Super 35mm film frame. 5Dii (fullframe) is ROUGHLY 60% larger than Super 35mm film and the AF100 (4/3 sensor) is about 60% smaller (unless my math is off). Essentially it means that while both cameras are very close to the range of lenses and DOF one has in your average 35mm production, the AF100 is going have a bit deeper focus and the 5Dii a bit more shallow. Canon ASP-C Cameras (7D, 60D, 600D) and a number of pro HD Camcorders like the RED, Alexa, and S3 all have sensors which are almost the exact same size as 35mm movie film.
Anyway, from what I've judged, the AF100 is a better choice if you can afford it as it's a real video camera instead of a stills camera with video features. Things like real camera controls, XLR mic inputs, real video controls with real zoom lenses, and built in ND filters are just some of the many things that make it much nicer to use. It's more expensive to be sure but not a HUGE amount so considering you can find the body for $4,000 which, compared to a 5Dii body ($2,500) isn't bad given all the extra features you get. Going with an HDSLR makes more sense in the 60D or T3i range since those are WAY less than an AF100 ($800 or $900).
That said, I still am annoyed that the codec on the AF100 sucks. HDSLRS have an excuse for using an uber compressed codec since they're video features are new and they're primarily still cameras. Something like the AF100 is idiotic since it's a pro level camera and Panasonic had great codecs like DVCProHD. Lord knows why didn't think to put maybe a P2 slot on the damn thing so that those of us with HVX200s or other P2 cameras could get some use out of our old cards...
David is correct that the 5D is much larger than 35mm film. It's the size of a 35mm STILL frame, but not normal 35mm film used in movies, that's closer to the AF100 or Canon 7D size. The AF100 isn't 60% smaller than 35mm film, it's 60% smaller than 35mm FULL FRAME film, which is not what normal 35mm films are shot on. It sucks that the information is so confusing, because the AF crop factor is far less than anyone thinks, and much closer to what shooting on 35mm film would give you. The 5D is like VistaVision.
That said, I still am annoyed that the codec on the AF100 sucks. HDSLRS have an excuse for using an uber compressed codec since they're video features are new and they're primarily still cameras. Something like the AF100 is idiotic since it's a pro level camera and Panasonic had great codecs like DVCProHD. Lord knows why didn't think to put maybe a P2 slot on the damn thing so that those of us with HVX200s or other P2 cameras could get some use out of our old cards...
That said, I still am annoyed that the codec on the AF100 sucks.
To make the AF100 remain within a mass market price range it was kept to 8bit, pretty much the standard for onboard recording apart from a few exceptions around this price range. P2 is designed around two Pana codecs, DVCProHD and AVCIntra.
The relevant question to ask yourself is "does the consumer decide?", and once you made up your mind about that one, do find out the actual answer. You put 100 non-tech peeps in a room on two normal size screens showing random footage, majority would say 5D looks best. .