I think what you're missing is the idea of jamming timecode. You don't necessarily have to have a daisychained TC line running in and out of every camera, like I think you're thinking.

You can designate one camera to have "master" TC, and then "jam" that TC into every other camera by connecting them each to the master camera, one at a time.

The jammed slave cameras will continue running their own internal free run TC that is in sync with the master camera after it's disconnected. It's true that the slave cameras will drift over time, and moreso each time they are turned on and off. Sony says that they can fall up to plus or minus 7 frames when they are powered down, but that's a worst case figure.

So you can see in this scenario, each camera only being able to do in or out at one time is not a problem. Not having both is only a problem if you want to run live TC lines between multiple cameras.

VDR Control With GEN LOCK IN/OUT
 

Thanks Nate.
Let's say I hooked up a 350 to a 330 via BNC Thru The GEN LOCK.
If the 350 was set to master and 330 set to TC IN, when I start
recording on the 350 would it automatically start the recordning on
the 330?

No Rob, genlock has nothing to do with starting/stopping or timecode. You would use the timecode out to timecode in. Genlock is a signal fed from a master clock to all the cameras in a multi-camera shoot that keeps all of them at the same exact location of their scan such that when the switcher goes from camera to camera, there is no hiccup or glitch in the picture.

-gb-

Thanks Greg. Having 330s & 350 it got confusing being the 330L
shares 1 TC IN/OUT Gen Lock port.