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Here are a couple things you could try:
- Shoot at 1080/24p, but edit in a 720/24p sequence. Since you don't need 1080p output, you're not losing anything here, but actually gaining. You have a little bit of reframing capability with the 1080p footage in a 720p sequence, and it's pretty simple to scale the 1080p shots to fit the full frame of the 720p sequence. As you're clearly aware, it's better to decrease the size of a larger format than increase the size of a smaller format.
- Your time remapping workflow is fine, if you need variable speeds, but a quick way to match the frame rate of the 60p footage to the 24p sequence is to change its frame rate interpretation. Simply select one or more of the clips, right-click them or go to Clip > Modify > Interpret Footage, and look at the Frame Rate section. If you type "23.976" in the "Assume this frame rate" box, your footage will be interpreted as 24p and give you a nice 2.5:1 overcrank.
- Exporting 60p at 24p will not give you the 24p "look." Instead, you'll get a stuttered export, because Premiere will have to drop frames to conform the 60 frames per second to 24 frames per second. The first frame will make it into the export, followed by the third frame after that, and then the second after that, and then back and forth between the third and second frames--it won't look good You can export with Frame Blending turned on and interpolate these frames, but that will not look that good either.
Hopefully, that gives you a little bit to work with. Experimentation will be the key here. Have fun!
Thank you so much, this is exactly what I needed to know. I will implement what you've recommended and experiment to learn more.