First off…you need to convert that format to an editing codec…like ProRes. FCP doesn’t work with MPEG-2 natively…not well. Anything that isn’t a codec you find in the Easy Setups needs to be converted.
Second…QT playback and the FCP interface rarely match. The interface in FCP isn’t to be used as reference at all…ever. It isn’t designed to be used as reference to how it will really look. It’s designed to show you what you are doing. To see what it really looks like, you need an external monitor and IO device to get the signal to that monitor. FCP 7 was designed with broadcast in mind.
FCX will show you better…as will Adobe PRemiere Pro. Both of those are designed to show you what your footage will really look like on a computer display.
Shane
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