[Warren Eig] “Actually, doesn’t it technically convert it to ProRes in the background? That’s been my experience with FCPX, no matter what you put in the time line or, um, project, it converts to ProRes.”
No it does not. If you have Create optimized media checked it will create ProRes files, but if you uncheck that option, it will simply re-wrap the AVC/H.264 video into a QuickTime container. What you will have in your Original Media folder is a Quicktime MOV file with the original H.264 video in it with no loss of quality. This happens in a matter of seconds after importing. You must have Create optimized media check which is why you are getting ProRes files generated.
~jr
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