dimensions changed when digitizing p2 cards in FCP 5.1.2, as well as quicktime format

I noticed when I digitize my p2 card data after I upgraded to FCP 5.1.2, they are not digitized as FCP Quicktimes anymore but just as regular Quicktimes, is that how it works now?

And the dimensions are off as well, so instead of getting a rez 1280x980 when I digitize the p2 data, i get the smaller rez of 960x720. Is this a default now? How do I change it to a higher rez? Is it a sequence settings or presets thing?

My footage is filmed at 720/24pn. Any help or suggestions would be great? thx.

Ron