I did some tests on this, and I have just done a quick repeat with my new memory cards to confirm.
I disagree with Jeff Cable's assertion that the CD slot is slowed down to match the SD write speed, the numbers don't stack up.
Test... 5D3... Sandisk 120mb/s CF + Sandisk 45mb/s SD
20 frames, 1/125th ISO 100, continuous high, stopwatch started as I hit the shutter
CF Only
Frame rate slowed down after 8 frames
Buffer light went out after 7.7 seconds
CF + SD. RAW to CF and large fine jpeg to SD
Frame rate slowed after 6 frames
Buffer light went out after 9.6 seconds
CF + SD. RAW to CF and small fine jpeg to SD
Frame rate slowed after 8 frames
Buffer light went out after 8.8 seconds
This suggests to me that we are seeing the camera wait until the shot has been written to CF and SD before starting write the next shot. Because it takes longer to write to SD, it appears CF is slowed down but the slot does not get limited to 133x as Jeff Cable stated.