Match sequence settings to clip settings should avoid rendering, right?

I drag my media to my timeline and that helpful pop-up stops and asks to match the sequence settings to the clip settings. I say yes, and because the two now match perfectly, this should eliminate the need to render --- right??

I've tried to match the squence before dropping in my media, but can't seem to find the right settings myself.

I can't waste time rendering. Please, any help on this is greatly appreciated!