It doesn't matter what presets to use. Just drag an imported clip to the New Item icon in the project panel and a new sequence will be created with the proper settings. This was created specially for those of us who forgot in what mode they shot.
Hi Harm, Thanks so much for your help. A little further question - where is the New Item Icon exactly? When I try to drag the clip over what is the new item icon for me it wont let me drop it on it. Apologies for such simple questions from a rusty user - I am delving back into premier after a couple of years of not working in it.