Nofilmschool has a detailed writeup on how to use Ginger HDR’s new functionality that allows you to edit Magic Lantern RAW and CinemaDNG footage (both) directly within Adobe Premiere Pro without the painless transcoding process:
Dave Kendricken writes:
Ginger HDR may present the most direct solution for Magic Lantern RAW and/or CDNG editing in general at this point. It sacrifices some flexibility — it cannot natively use Abobe Camera RAW to decode CDNG, and therefore relies on its own debayering algorithm and white balance controls. That said, Ginger HDR’s support of Magic Lantern .RAWs bypasses the need to convert using Raw2dng or RAWMagic, which is hugely convenient.
Ginger HDR is $150, though. Read the full article here that outlines a complete workflow with Premiere Pro as well as After Effects.