Consolidating in Avid has few options exactly because it doesn’t transcode the footage.
You get the same codec wrapped in an MXF wrapper.
Transcoding is where the codec and potentially quality can be adjusted.
However not all sources can be consolidated. Avid will only consolidate content it supports.
Its not normal to consolidate your sources as it can limit the graders options. Normally a list is made of all the sources used (no point sending source files not used in the edit)
And those sources collected together and sent, in a drive if need be.
Pat Horridge
Broadcast & Post Consultant, Trainer, Avid Certified Instructor
Free online Tutorials at VET digital media academy online http://vimeo.com/channels/752951
pat@vet.co.uk