Thanks much for the advice. I’m new to FCP, so I have two follow-on questions:
1) You say, “FCP simply does not recognize h.264 as an editing codec at this time,” yet in my ignorance I’ve been doing a lot of editing successfully, so evidently FCP does recognize it. Do you mean, “Trying to use h.264 as an editing codec will lead to trouble?”
2) Could you please tell me how I would “transcode” using ProRes? Is this an option in FCP, or some other application I need to get? I don’t understand what the workflow would be. Is this something I would do in Compressor, then import the resulting file into my timeline?