Consolidating and "up-res"ing Anamorphic SD footage, and not losing aspect

O.K, I tried a forum search but could not find the answers, so here goes:
I have been working on a DVCAM project in FCP, and everything was captured DVPAL, and is Anamorphic.
All is well in the edit is finished.
So I wanted to up-res the project to uncompressed 10 bit (or possibly Prores to save disk space as I don't think my two disk raid will be fast enough to play uncompressed) for the final online so that I have more color space and GFX will look nicer; mastering to Digibeta via SDI.
I have a Blackmagic HD Extreme card installed.
I believed the proper way to consolidate and up-res at the same time would be to use Media Manager.
I selected my sequences (still in parts as I will put them together in the final layout).
Open Media manager.
Select 'Recompress'
Select 'Blackmagic PAL -10 Bit'
Then select 'Delete unsed media..."
and tick 'Use Handles'
Make a new folder for it to go to,
tick 'duplicate selected items and place in a new project'.
It starts to process audio and video,
and opens a new project.
But the new project is 4:3 and has the black bars.
When I open the media it also has bars top and bottom.
When that failed I unticked the anamorphic option in the bin.
did the same Media manager set up.
Then the new project/sequence has black on the sides!
Is my only option to use Media manager to copy and consolidate (use handles to remove media),
then use the mighty Compressor to up-res the media,
and re-link the new project to the new up-res media?
Help me Obiwan Kenobi, your my only hope .....

Bounce...
O.K, so I have done the consolidation,
then set compressor to up-res the footage,
Opened the new Project,
relink to the new Pro-res footage.
Change sequence settings,
start grade and final GFX.
Any suggestions on work flow for these kinds of projects.

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