Aaaaaaaaahhhhhhhh yie yie!
I owe you one Luis (and Tom). Either FCPX is messing with my head, or I need to drink more water. I got it. I must have missed something ... I could have sworn there was no 4K choice in that first window.
So. I set it up as a 4K 24p multicam. FCPX now appears to be 'transcoding' a clip in the process of producing the 4K multicam. Slowly. And it appears to be transcoding the 4K clip – maybe it's just making a proxy or optimized version? It is a 45 minute clip.
When I did the multicam clips set at HD 25i (containing the 4K 24p clips) it seemed to take only a few minutes to produce the multicam, no transcoding. Mmm. Could be that I'd already produced the proxy files.
If this works I will have no complaints. It blows my mind how efficiently that first show went together... and unless something weird happens during the export ... it appears to be a seamless (and in sync) 4K 24p built from the 2 formats and different frame rates.
Will report back as soon as this new 4K 24p multicam clip is done.
Thank you gentlemen for your patience and help.
Ben