Hi Shane,
I just directed my thesis film (I am a student in Mexico and former student of VFS), and unfortunately things didn’t work out schedule-wise with the editor I was working with, so I have been left with a project that has a similar problem. In preproduction we did not take into account that shooting with the C500 in MXF would turn out to be problematic when editing the material in FCP7.
Working now with a new editor, we are faced with the problem that the workflow the old editor had picked is an offline/online one and he already merged all the clips in a sequence with 960×54 (the original footage is 1080).
We are about to start editing but have not figured out yet how to reconform the media to HQ since the files are merged.
Any ideas of how we could do this?