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Ok, From what I understand, the 5D actually doesn't generate time-code in the original h264 files off of the camera. At 30P Setting, the camera will shoot 29.97. If we use the EOS E1 Plugin with Final Cut Pro, it will add timecode to the ProRes clips, drop-frame Timecode.
So, I think that we are OK...Anyone else have other info? Does this sound right?
As a side note, can't you switch between drop and non-drop in FCP without too much of a hassle?
I always thought the source's timecode was non-drop and when you're seeing drop-frame it was just FCP, or any thing else showing drop-frame, accounting for 29.97 and what-not. Drop frame doesn't actually drop a physical frame from the file, it just skips two every minute in the timecode unless that minute is dividable by 10...
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