>Derek recommends against PHOTO JPEG
P-Jpeg is not supported with FCP's RT playback architecture, so you cannot have real time playback when you drop an effect onto a clip.
960x720 is the correct storage aspect ratio for DvcproHD, because DvcproHD is a subsampled format and your pixels are not square. DvcproHD is an old video format that was created to squeeze an acceptable HD video stream into 100Mb/s to fit onto tape and allow you to capture through the Firewire 400 interface. The subsampled compression used by the format means that the clip will be stretched on playback to fit 1280x720. This is fine and this is part of the video standard.
In simpler terms, make sure that you use the DvcproHD preset in Compressor, and set the frame rate to "current", and don't muck around with any of the other settings. When you import it into FCP 4, choose a Dvcpro HD preset and don't muck around with any of the other settings.
Btw, I apologize if I sound a little snotty. That is how I am, and I frequently meet douchebags at work who refuse to learn how video formats work, and they refuse to listen when they ask you for advice on how to troubleshoot a problem.
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