Thanks for the reply.
Getting my terms down, so correct me if I am wrong.
Anamorphic material = shot in 16×9 aspect ratio. Shot on Canon XL2. When played out of our ol’ DVCAM VTR, looks stretched vertically to fill the 4:3 screen.
Goes analog “into” our AJA like that. Under settings in FCP I can select capture anamorphic and edit anamorphic. What comes out of the AJA is full 4:3.
By letterbox do you mean overlay of black mattes top and bottom?
Or distorting the aspect ratio to 16×9 with black top and bottom?
Workaround: I solved it (sort of) by capturing in anamorphic and editing in not-anamorphic. FCP has to render the footage in the sequence timeline. I was hoping to avoid that.
I hope this helps.