All this time, I have been editing DV with the following sequence settings in FCP:
- Frame Size: 720x480
- Pixel Aspect Ratio: NTSC-CCir 601 / DV with Anamorphic 16:9 checked
- Field Dominance: Lower (Even)
- Editing Timebase: 29.97
- Quicktime Video Settings Compressor DV/DVCPRO - NTSC

I finally got an assignment that required me to shoot HDV so I shot the footage on a DR-HD100 (720p60) and I am in the process of transferring the .mov files over to FCP:

How would the ProRess codec come into play over here if I can simply load the "HDV 720p60" Sequence Preset and start editing? When would one use the ProRes codec?...Thanks in advance.

How would the ProRess codec come into play over here if I can simply load the "HDV 720p60" Sequence Preset and start editing? When would one use the ProRes codec?...Thanks in advance.

There have already been a few discussions on the subject of HDV and ProRes. (http://www.dvinfo.net/conf/search.php?searchid=3552160) I suggest taking a read through some of them. But the short quick answer is: In your sequence settings, change the render setting for effects to ProRes.

Check out this thread (http://www.dvinfo.net/conf/non-linear-editing-mac/139987-best-format.html), which has links to some good discussions and info.