500GB will be around 30 hours of DNxHD36. You can certainly make “dailies” via an AMA linked transcode process if the resulting files and deliveries are what thy want. Transcoding is one part of a dailies process depending on what editorial specs might be as well as viewing dailies for others. If it involves any kind of basic shot to shot color balancing (usually levels), burn-ins, H.264 viewing dailies with watermark, etc, then using a third party tool designed for dailies workflow would be better.
AMA link and transcode is just that – makes DNxHD(whatever). You can apply a LUT if provided, then these are LUT based transcodes. These can work well if everyone is on the same page calibration and color space wise. You may get a set for INT/EXT/DAY/NIT combo or one for every scene, and hopefully not one for every shot, but I’ve seen overzealous DITs provide those. And even in situations when a LUT is provided, I have seen colorists balance out shots to look more uniform.
Then comes audio – double system? Sync? Mix track only or all tracks? Are thy timecode jam synced? I have seen dailies contracts that only called for ‘timecode synced” dailies meaning they weren’t responsible for non timecode takes. etc. Do they want 1/4 frame sync accuracy ad control? Or will they sync and you provide MOS picture transcodes only? Do you provide additional logging such as scene/take as well as need to generate producer’s reports?
As you can see, whenever I hear “making dailies” for a feature film, one or all of these needs come into play and a spec list from production and post are usually given before bidding. But the times are changing fast, but having something on paper that everyone has agreed to will save time and face later should issues arise.
Michael