I tend to modify my source tracks prior to bringing them onto the timeline. That way I can have what I want when I get there. I'll tweak settings for both the media and the project.
System:
Dell Precision T7600 (x2)
Win 7 64-bit
32GB RAM
Adobe CC 2017.1 (as of 8/2017)
256GB SSD system drive
4 internal media drives RAID 5
Typically cutting short form from UHD MP4, HD MP4, and HD P2 MXF.