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That sounds like a plan. Recently I’ve installed a BMD Intensity Capture card and they have some pretty good codecs for transcoding. Their software Media Express has a setup where you can capture via HDMI from cam to NLE or as in my case a BR-HD50. Being able to process up front is a definite time saver.
I read you LnC about that ‘Film Degree’. Fortunately, mine has paid itself off at least twice by now and though I love my Xl series and GYHD 200 series cameras, the prospect of getting a real cinematic look without having to purchase a 35mm adapter does bring a sparkle to my eye.