[Ron Whitaker] “What is the optimum settings for the Project Properties dialog box? Should they match the original raw footage as best as possible? “
For the smoothest editing experience, yes. If you plan to deliver in the same aspect ratio as your source, definitely yes. If you plan to deliver in a different aspect than your source, then no.
[Ron Whitaker] “When are there times when the Render As settings might differ from the Project Settings, if at all?”
When delivering for multimedia devices. I shoot 1080-60i but deliver to YouTube in 720-30p. Since the aspect of both are 16:9 I keep my project set to 1080-60i but render to 720-30p. I also deliver a lot of DVD’s which are 720×480 Widescreen. I usually keep my project at 1080 because HD widescreen is close enough to SD widescreen (although not exact).
If, however, I wanted to deliver in 2.39:1 aspect for a more cinematic look, I would set my project up for 2.39:1 so that it matched my deliver aspect and not my source aspect. This ensures no surprises when you deliver. Of course if you are just shooting 1080i and delivering 1080i on Blu-ray you would keep everything the same.
~jr
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