If you had the Kona 3 then you could upconvert the footage thru the card in realtime. But seeing that you are in the same boat as I, you will have to do it the harder way.
Take your 720p sequence and copy it. Create a new sequence that is 1080i (uncompressed 8-bit if you are working with DVCPRO HD. It is an 8-bit codec) with the required framerate and paste your timeline into this one. Now resize the clips to fit the current sequence (Sequence Menu). It won’t show up as an option if you highlight transitions, so what I did was map the command to an F-key and highlighted several clips at a time then resized. It took a while, but worked. Then I hit RENDER. This took a while, but when done it was ready to be output to tape. OR….This just hit me…you can export a Quicktime Movie, self contained, and import that back into FCP, drop it into the 1080i sequence, resize it (one clip) and render. Yeah, that will save tons of time. Except that your graphics and text will look better if the original files were rendered at the higher resolution, rather than upconverting them.
Also make sure you have plenty of room for the render.
Shane
Littlefrog Post
http://www.lfhd.net