[Jeremy Donaldson]" I notice the footage looks bad. The blacks are crushed and so on. "
If Resolve is linking to the original R3dcode source file, I fail to understand how the footage is being "degraded."
If the "blacks are crushed and so on", then it is most likely a case that the RGB full range is being mis-mapped between 0-100 IRE. It is a common ambiguity. Click on the media file properties and choose the correct option (away from "auto") to see if that has an effect.
As far as the source settings being ignored, that may be one reason. Because Premiere is pre-conditioning the media prior to being handed to its timeline, this may also become an issue on the round trip, where the same assumption will be made about the RGB/Linear range setting. I would test this with a couple of sample clips before I surrender the timeline to a couple of hours of anguish and heartbreak.
"I always pass on free advice -- its never of any use to me" Oscar Wilde.