[Christopher Harris]

Did you ever get a response to your question? I have the same question.

-topher

[Christopher Harris]

Dave, how funny that we both had the same problem today. When I found your question, all I was searching for was what the firmware upgrade actually did (still don’t have an answer)…Anyway, regarding your query:

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Switch settings from 1 – 8 are 1 off, 2 off, 3 on, 4 off, 5 on, 6 on, 7 off, 8 off.

I know I’m missing something obvious here.
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I’m going from HD-SDI to S-Video. My settings: 1 on, 2 off, 3 off, 4 off, 5 on, 6 off, 7 off, 8 off.

Changing 1 to On will probably fix your issue as it is the Down Converter. I found this in Blackmagic Converter Utility Manual that clued me in:

If a high definition signal is received and the Down Converter is set to “Off”, high definition video will be output. When one of the down conversion options is selected and a high definition source is received by the Mini Converter, standard definition will be output.
When the mini switches on the Mini Converter SDI to Analog are set to S-Video or composite video, no video will be seen on the output when Down Converter is set to “Off”, as S-Video and composite video only support standard definition video. The down-converted video can be used with component, S-Video or composite analog video for NTSC or PAL, as all three types of analog video support standard definition.

Christopher