has written a simple guide on how to record Prores with the C500 and the Pix 240i.
The C500 is not a wasted camera. According to them:
…did you know that the C500 can output 12-bit 4:4:4 HD video? You might ask yourself what the big deal between 8-bit, 10-bit, or 12-bit would be, or why one would want 4:4:4 RGB, but the differences can be substantial, especially for VFX work.
Read the entire tutorial here.