I am a long time FCP user and trying to make the After Effects workflow a little smoother by utilizing the Adobe suite.
One of the most valuable things I miss about FCP is that when I drop a clip in a blank sequence (no matter what the settings of the seq) it will ask if I want to match the settings of the clip. This ensures that no rendering is required to quickly edit the video in real-time.
Is there a plugin or function in Premiere CS4 that I am missing that will afford me this feature? Currently i am doing everything I can to match the clip settings when creating a sequence, but sadly i'm still having to render the timeline to preview the edit.
Yes, you can drop a clip on the new item icon which is located at the bottom of the project panel. This will create a new sequence that matches the attributes of the clip.
Edit: Sorry this feature is new in CS5. In CS4 you just need to know what the attributes of your clip and and make a seq to match.
And in CS4, if there is not a matching Preset, you can choose the Desktop Preset, which will allow you to customize nearly every attribute to match your source footage. The name is a bit of a misnomer, but has been around for a long time. I would have called it the "Custom Preset," but Adobe never called.
PS - I just learned something new about CS5 from Curt, because of your question - thanks!