[Bill Davis] “Tether your camera to your computer via USB with FCP running and use the EOS utility to bring your video files directly into an FCP timeline.”
I would not recommend this at all. For one you will never have your raw files, they are your negatives, your tapes. Always copy them to a a HD with folder structure as it is on the card. Then do the Log and Transfer in FCP. That way there is a backup of the clips and you would normally want them on separate drives. You do not want to be working with the only copy of your media. This is rule #1 for tapeless workflows.
As a rule of thumb, your sequence settings should always match your clips, so if you want to edit as 24p you need to shoot that way. If you shoot 30p you need to edit with a 30p timeline.
To speed transfer to ProRes clips there is a new program by Red Giant and it will do multiple clips at the same time. How ever many processors you have it will transcode that number of clips. So with an 8-core the process will be basically 8x as fast if you have at least 8 clips to transcode.