I'm testing to transcode my CFHD footage in Indeo 5.11 and creates a project file to allow my assitant editor to edit offline with it...
The problem is that I'm unable to have my premiere costum setting Indoe 5.11 project to play my file realtime, it ask me to render everything I drop in the timeline, even if my files are the same settings as my project's settings !?!
Not counting HDV (as I don't work with it), I think the only time you won't get a red line is using DV clips in a DV project. Every other clip in any kind of project is likely to give you that red render line.
Your playback capabilities will depend on your hardware. Even with the red line, playback
can still be in real time. Most of my DV clips with the red line still play back perfectly fine. (Not all do, such as heavy color correction, but most transitions and titles play fine without rendering.)
Think of that red line as an indication that playback
could get tripped up, not necessarily that it