I love the Replace With Clip feature, but I don't understand why it always puts the new clip back at 00:00 every time. I have to use the slip tool whenever I do it. It's not an issue in After Effects or FCPX, so I wouldn't think it should be an issue here.
I've tried "From Source Monitor, Match Frame," but I get an error, "The source clip lacks sufficient head material to match the desired frame." Strange because the clip I attempted to replace with is the exact same length. I get the same error trying to replace with a ridiculously long clip as well.
First, most of the creative suite was bought from other devs, so take what you would think would be or wouldn't be and put it away somewhere else. Sorry to say it, but they are very different programs.
Remember that replacing clips isn't like switching on the kitchen light. You have to select things in the proper order. IF you have the clip in the BIN and it's selected (the one you want to plant), you can select the clip you wish to replace in the timeline and use the replace with clip>from bin. If it puts it back at the first frame marker, your playhead is there, and it's trying to paste with no clip directly selected. SELECT with Left click, THEN right click and use the replace. Also, make sure your playhead is where you are replacing.
You need to replace clips with clips of not only the same length, but same general profile; i.e., they need to have the same in\out, the same or similar reference for sound, and they need to have the same number of frames. If you use sub clips, you're better off, as it will define the clip as a sub, and allow different length, frame speed, sound ref, in\out; all without making a fuss as the sub clip conforms the sub data to the timeline, but references a source clip's data that may be different from the timeline or the clip you wish to replace. Occaisionally, you'll get a clip with a large audio ref or a bad header read. Repair disks, reformat the clip, or use a sub and try again. HDD errors can cause the read problem, offline media can occasionally cause it, and of course, some unsupported formats will cause it as well.