Not that I want an argument over personal preferences but is there any need when you have control of shutter/aperture? Should be the same case when you control the ISO as well, no EC.
Obviously I have no user experience of the 5D3, but I found auto ISO useful in manual mode on the 7D. I can set the aperture and shutter speed as I require and let the camera set the ISO. I'm shooting kids playing indoors in changing light sources, I want the shutter speed fixed to a minimum and the aperture is generally wide open to be honest. The 7D I liked to expose to the right when the ISO got 1600 and above, so being able to dial in +EC in this situation would be great. It's also useful when shooting BiF when you have different colour birds/backgrounds.