Don't know how I missed that. Thanks!
Just note that going from MPEG2 source to an MPEG2 output is far from lossless. Premiere doesn't do "smart encoding" of MPEG-based assets, so even if you're going to exactly the same bitrate and other parameters of your source footage, you're introducing another layer of compression. This is unavoidable to an extent; depending on what you want to do with the file, there are other options that may be better suited in that they are lossless or at least less compressed.
Thanks. I do understand the additional level of compression. Even though the sequences are only a few minutes each, I don't think it's worth dealing with the huge file sizes, etc. I was just looking for the 'ideal' way to backup the master sequence - something the most equivalent to providing 'an edited master' via HDV tape.
I suppose I could have used an intermediary codec like Cineform, but it's really not worth it. What would be a good alternate (or less compressed) alternative?
For .avi I would use uncompressed (none), UT, Lagarith or HuffYuv.
For Quicktimes, Component or Uncompressed are lossless.
The Avid DNxHD codec is getting good reviews for quality vs. size,
but I do not have any direct experience using it.
Here's a wikipedia listing of various lossless codecs: