Correlating timecode amongst different tracks

Question

I have four video tracks covering roughly the same extent of time (an auto race). The video sources do not all start at exactly the same time. I use quarter-pip to composite the tracks in different ways. This is where my difficulty arises.
The timecode at the "in" point for the high-def forward cam is 12:53;26, that for the roof cam, 11:04;07 and so on. (This is for clips which are selected in the timeline.) It's going to get mightily complicated. I would have expected clips displayed "from" the timeline to conform to the timeline timecode, i.e., they would all start at 0 at the "in" point. In other words, I would prefer to have the computer do the correlation of the different timecodes, since it is less prone to error in this instance.
Just running through and editing the sequence in real-time is not an option, since it is too complex to display (even in unlimited, low, quarter RT) more than one frame every few seconds. As a result, I am stuck finding the interesting bits of each track and splicing them in to the timeline with their fellows, which I cannot effectively do, given this lack of correlation amongst the timecodes.
The documentation has been little help so far. It may be that I am too far off-base wrt normal video editing.

Answer 1

I'm not sure whether this will be helpful, but it might.
I'm editing a music video with 9 HD video streams and no timecode sync.
First of all, I sync'd up each track to the music. (You are lucky you can
sync to timecode offsets)
Then I wanted to do a multicam edit, but I couldn't use timecode,
in points, or out points. So I exported each track, beginning at the
beginning of the sequence (lots of black frames) up to the end of
the clip(s) on that track. Sometimes the track contained more
than one media file. That's one way to reduce the number of
video streams in the multicam mode.
The resulting exports were then reimported and could then be synced
by their in points. So I selected the new media files and made a multiclip.
At that point I opened the project in Media Manager and recompressed.
So now I have a small RT version of the 1080p project using little photojpegs...
and now I can do an offline edit on my laptop sitting in a cafe...sweet!
This is a lot of work, but it has been absolutely worth it!
FCP's clunky mulitcam edit mode has allowed me to move really fast,
try out all kinds of edits amongst the 9 streams, and have lots of fun.
When I'm done editing, I'll go back to the HD files.
Like I said, it's not the workflow you were planning, but it does work
well for cutting multicamera action.