We recently switched from FCP too. The tricky thing to understand about PP is that it doesn’t care what your incoming footage codec is and it doesn’t matter what codec you Preview/Render in, they have nothing to do with your final output. When your edit is completed you select Export>Media, this is where you determine the final codec for your delivery.
Be sure to Check “Render Maximum Quality” and to Uncheck “Use Previews”.
For example, we use ProRes and AVCHD files. We drop them straight into the PP Bins and Timeline. We use an XDCAM codec in the Sequence Settings for Video Previews. From our tests, XDCAM makes a sharp looking preview for our producers without creating large files. Then when it comes time to export the final product we Export>Media and choose whatever codec is needed. Basically, PP then goes back to the original files and renders everything into the codec selected.
A little different than FCP, but forward thinking and flexible for new media projects.
Bars & Tone
SALUTE!