"It would be nice in FCP's browser window if you could drag a clip to an icon where a new sequence was created using the clip's parameters (wouldn't have to mess around with the setups so much...aka "the why is my timeline red head scratch"
Christine Steele showed up a great shortcut for that very purpose. It really is the best FCP tip I have ever seen. I have a quick video tutorial on it at www.proapptips.com/shane
NON STANDARD CODECS in FCP. But it works for any footage you have....pretty much.