John, thanks for the reply and info.
The reason I asked is that Larry Jordan, who writes books and offers online classes on FCP X, said (albeit in 2012) that the disadvantage of using Camera Archive is that the only application that can read this file is FCP X. Further, he is leery of storing media in a format that can be read by only one application – even from large companies like Apple. His recommendation is to copy files manually so other applications are able to read them.
Maybe that was then the current version of FCP X has changed? Just want to make sure I’m putting all my footage into something that can be accessed by other software.