We were pretty impressed when we saw a demonstration of the Canon Speedlite 470EX-AI's Auto-Intelligent bounce feature in action. The way the flash head swiveled and tilted to find the optimal bounce angle was a bit mesmerizing. Unfortunately, the feature isn't compatible with Canon's entire lineup of cameras.
Site visitor Dave pointed out this Speedlite 470EX-AI Major Function Compatibility Chart which shows that the 470EX-AI's highlight feature – Auto-Intelligent Bounce – is only compatible with the following Canon cameras:
Canon Cameras Compatible with 470EX-AI Auto-Intelligent Bounce
If you're currently using any other Canon DSLR or M-eries camera, including the EOS 5D Mark III, 6D or 70D, you'll only have access to the Semi-Auto Bounce feature where you manually set the bounce angle and the flash maintains that specific angle as you rotate the camera.
Another thing to consider before getting the 470EX-AI flash is that it is not radio-enabled and is not a master flash. However, it can act as a wireless slave via Canon's older optical triggering technology.
B&H has the Canon Speedlite 470EX-AI Flash available for preorder.