Do you plan on animating the photos, e.g. zoom in, zoom out, pan around? Or will you be leaving them static? If you're not going to be animating the photos, you can probably use the lowest resolution--and practically speaking, you don't even need to crop and resize the images externally before using them in Premiere Pro. As of CS5, PPro has much better scaling algorithms and can produce very nice results simply by scaling the photos in your editing sequence. This lets you position a large photo any way you see fit within your sequence, so you don't need to worry about creating multiple versions of a cropped photo, e.g. wide, medium, close-up.
If you will be animating the photos, there are practical maximum dimensions you'll want to be aware of: maximum dimensions in Adobe Premiere Pro CS5 and CS5.5 « Premiere Pro work area
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Along with everything that Colin stated, my one question would be: "Will I ever have need for these photos to be printed large, or used in printed material?" If the answer is yes, then shoot at the highest resolution. If these will ONLY be used for Video, then the lower resolution will save some HDD real estate, and just a bit of processing, when going from the Canon RAW in Photoshop, Lightroom, or in Canon's RAW utility.
I find it frustrating, when the client says, "Oh, we will NEVER need the images, beyond the Video," and then they come back with, "Can you do a Frame Export, because we want to use that for our tradeshow booth, and it needs to be printed to 120" wide."