I’m a little iffy on Raylight as the documentation isn’t very forthcoming as to what it’s doing in terms of the codec. Also, the intermediate it produces doesn’t acknowledge the 4 channels of audio that the source media has, and that’s a problem for me. Cineform looks fine, but again I’m on a paper-thin budget. I’m planning on exporting my EDL to FCP and doing the master that way. I just really want to maintain the fidelity of my footage for when I go to colour correction.
Ultimately, I figure I’ll have to use one of either Raylight or Cineform, but I’m just throwing this out there to see if there’s another solution.