FCP and PrP function very differently. FCP is Prores based and PrP is universal and will play any format natively. I strongly advise you to get this book because its clear to me that you need to understand how PrP works so you can effectively edit with it.
https://www.amazon.com/Editors-Guide-Adobe-Premiere-Pro/dp/0321773012
That being said PrP will play any clip and if you use the Create Sequence function, it will match the sequence to the clip.Its crucial that the basic FORMAT parameters match the clip, NOT the codec. The crucial time to select Prores is when exporting. AME gives you the option to export in MANY Quicktime formats.
I hope this helps. I got that book and found that I was banging my head against the wall a lot less. 😀
( There are even QT options for Preview Files, but understanding PrPs workflow is necessary to understand the role of Preview files, which are nothing like FCP render files. I hesitated to even mention them since it could only serve to confuse things.)
Tom Daigon
Avid DS / PrP / After Effects Editor
http://www.hdshotsandcuts.com
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