FCP 7.0.3 mixing formats

Hello,

I've just received a final cut project with 80 hours of footage using 4 different cameras and was hoping I could get some help on how to proceed. The producer wants the end product to be a 1080P quicktime with the option of going out to HDcam.

I'm working with FCP 7.0.3. The bulk of the footage was shot on a Sony EX1 formated as Apple XDCAM EX 1080p24, the frame rate is 23.98. They also shot with a Sony V1U formatted as Apple HDV 1080i60, the frame rate 29.97. I also received some footage from a nikon D90 formatted Apple OpenDML JPEG, 1280 ? 720 with a frame rate of 24fps. The last camera used was a handicam MiniDV formatted MPEG2 Muxed, 720 x 404 with a frame rate of 29.97.

The most important footage is on the Sony EX1 and Sony V1U. Because of the different frame rates how should I proceed? I have cut them both into a sequence set to XDcam EX1080p24 and it seems to be OK but the render bar above the V1U footage is light green. When I cut in the nikon or MiniDV footage the render bar is red which I figured would happen. Am I using the correct sequence setting for the 2 Sony cameras?

From what I have gathered around the internet I should transcode the Nikon footage to a Pro Res codec. Is this correct? The MiniDV footage is less important and I feel may not even be used but I would like to know what I would need to do if we wanted to use some of it.

I appreciate any input. Thanks.