So I captured the BETA SP in FCP as a NTSC-Photo jpeg 29.97 – because image quality wasnt my goal (trying to create a video reference for our sound guy, he typically likes a small frame size and file size).
Once I capture the material I dropped it into a new sequence. In the new sequence I change the timeline settings to non drop frame.
I used the visual time code on my source material and the time code on the sequence to get a reference frame sync. Which I then check my two pop and tail pop against. Everything lined up perfect.
Then you export to Quicktime movie. Under the settings option you select Custom. In the Custom window I changed the frame size to 320×240. Editing timebase was set to 29.97. Timecode Rate set to – Same as editing timebase. Quicktime video settings- to same codec Photo-jpeg and quality set at about 60%.
The original capture from BETA SP to photo jpeg was about 6.5GB and new compression ended up being about 1.5 GB.