Philip Bloom received a post on his Facebook from a guy who goes by Earz62801. According to him, they’ve been working on a firmware hack that can allow 2K/3K/4K recording on the 550D/T2i which will be released on January 1st, 2011. Everything is rumor right now as no working version of the firmware has been seen.
Sure enough, it’s a fake. This just posted by Earz: