[Michael C.]"The time code is all 29.97 now so there really should be no issue in letting me use the M100i codec to capture for offline and then re-aquire in the M100Hd codec at the HD media standard.
How do you do this?"
Easy. Do your edit in SD compressed, in an SD timeline.
After finishing the SD edit, choose Media->Conform Program and use the "Make re-acquirable media offline" checkbox. You will end up with a 1080oi timeline with offline video clips you can reacquire then.