Hey Ken,
You could have asked me this afternoon when you were at the station. We do it all the time. We don’t have an AJA IO HD but we have five Kona 3s an LHe and an FS1. In your AJA control leave you primary for your timeline at 720p Like your easy setup and make the secondary 525 SD downconvert anamorphic (your IO HD may have all your various outputs hot at the same time) your 59.94 timebase is dropframe just like 29.97 timecode. Black at least a couple of minutes on you SD tape to match your starting TC for your edit something like 1:00:00:00 and assemble to your master. Make sure your device control preset is set to the machine type you are mastering to.
Jim Calahan
KVIE, Sacramento