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Sorry to ask such a simple question. Dropping it into the timeline was the answer to my question. Thanks much!Welcome to the forum. Transcode some footage then drop it in the timeline and have the sequence settings auto adjust. Take a look at those and see if you like it.
I'm relatively new to FCP and HD. Tthe past ten years I worked with Premiere and DV. My HMC150 will be here this week I hope. I found a few very nice MTS files to play with in the meantime and have transcoded them with Toast.Currently, FCP does not through log and transfer support ingesting to ProRes 422 HQ.