Ok. Thanks for the help. I managed to figure it out late last night, and as usual, it always seems simpler after you’ve figured it out.
What I did was create a timeline with Frame size of 640×480 (ntsc 4:3) and pixel aspect ratio of square.
I used apple pro ress 422 compressor.
I dropped in the HD clips and selected NO to the prompt to change sequence settings, resized the clip to fill the 4:3 frame with the unwanted bits off screen.
Here’s where I got it to work. Instead of trying to export it as different aspect ratio, I just used the current settings and it used the sequence settings with no squishing.
Thanks for the input.
H