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What is the correct set up so that i can make PP default to sending the stream to the external on every project?
There is no way to set this on a project basis; it's per sequence. You must use one of the Blackmagic sequence presets to enable external monitoring from a sequence.
Also who do i set premier to dual screen editing?
I'm not positive, but this should be possible with the BMD card. However, setting up two desktop monitors is an OS setting, not necessarily a Premiere Pro setting. As long as you can expand your desktop over two monitors, you should be able to set up Premiere Pro and its various frames and panels to utilize both monitors. This is independent of full-screen external monitoring through the BMD.
In premier preferences under the media tab i see the intermediate media timebase ... Does this effect how Premier is handling my source footage? If not what does the window effect?
That dictates (or is supposed to, anyway) how imported media that does not have a specific timebase/frame rate should be handled on import. As far as I'm aware, this only affects image sequences--I've never seen it have any influence on an imported video or audio file. Even if it's set wrong when you import an image sequence, you can reinterpret the image sequence once it's in your project. Simply right-click it and select Modify > Interpret Footage. If you don't use image sequences, I think you can safely ignore this setting.
You're my hero.