After Effects has a very useful behavior when "precomposing" a sequence: You can choose to either "leave all attributes" on the layer in the current composition, or "move all attributes to the new composition".
There is no such option when "nesting" footage into new sequences in Premiere. Unless I'm missing something?
What often happens to me is I will make edits to a piece of footage - speed ramps, effect keyframes, opacity changes, etc - then later I want to go back and make edits to the footage, without the effects. For instance, adding an animated mask to the image . I want to do this just on the footage, without the effects, so if I have to change the speed ramps later, I wont have to redo the mask animation. This is why the two options for "leave" or "move" are presented in AE when Precomposing.
OK, so I can hit "F" on the clip to Match Frame, then drag the clip onto the "new item" icon, creating a new sequence matching the clip. Then select the clip in the timeline with the effects, and right click > replace clip > from bin, and effectively do what I want. Unless there' a simpler way?