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.

For more information, check out blog posts from Philip Bloom and planet5D.

[UPDATE]

Sure enough, it’s a fake.  This just posted by Earz: