(Original footage is HD, 1080p, recorded into a BlackMagic Hyper Deck Studio Pro in QT 422.)
When I right-click on footage in Premiere CC to "Replace with AE Composition," the image appears in the new AE comp squeezed into a square (4:3) window. However, back in Premiere, the footage looks fine. I could continue working and just deal with the squeezed perspective in AE, but it is troubling to look at. I've tried playing with some of the composition settings and I can't seem to fix the issue.
If I play with the squeezed footage in AE, like further squeezing or stretching the image, than it will appear distorted in Premiere.