Hi Lori -
It
is confusing. If you're delivering for broadcast, call the production person at the station you're working with. They will send you (or sometimes it's online) a spec sheet which gives you the codecs, audio formats, aspect ratios and raster image sizes which they accept.
Generally, the ones I've run into are 1920 x 1080, and 1280 x 720. Most of them still accept SD relolution spots (they won't turn down anything, essentially). Center cut means a screen which will fit standard definition "cut" out of the center of a high definition screen. If you watch newscasts, notice that the lower third graphics all sit within a frame which would be standard def if chopped out of the middle. This is how you create your graphics for projects which might be used for both SD and HD. After Effects even has a safe frame setting which gives you both SD and HD in one set, so you can eyeball where your cut would happen when played back standard def.
Get the spec sheets form your local stations and it will all become clear - well, as clear as a muddy pond gets. I create a "master" project at 1920 x 1080, either from AE or PPro, then use Adobe Media encoder to create my deliverables from that.
Joe Bourke
Owner/Creative Director
Bourke Media
http://www.bourkemedia.com