Marcel,
Thanks for your reply. That's great to hear about not having to re-render when you drop your media into the FCP timeline, using mpeg streamclip--even though I usually am on windows, I have to use a mac at times.
I have seen Blooms site, It's a great site--and you got me thinking about purchasing his DVD... For anybody else who stumbles upon this thread, working in CS3 PPro and the Canon 7D it looks like transcoding to a PPro codec like XDcam is the way to go as Magbanua did:
http://jasonmagbanua.com/blog/2009/09/10/perya-a-canon-7d-short/
I am going to give it a try... Now if I could only preview my timeline on a HDMI client monitor I'd be thrilled!
Richard
Richard Dolesh