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Thanks for the advice Perrone.
I guess thinking about it, that you could even use an intermediate codec as a proxy!
I have decided that my primary goal is to be able to edit quickly. Therefore I am going to use a proxy as my pc isn't powerful enough to work quickly with native or a high quality HD intermediate codec. I will test out some proxy formats and use the best quality one that my machine will allow me to use easily. Using a higher quality proxy will make colour correction type editing more accurate.
JK
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