Premiere Timelines - Best Practice and Workflows

Hello all, I am wondering if you can offer some advice.
I have been a Final Cut Pro 7 user my whole life - and more recently FCP X. We are currently looking into the possibility of switching some of our programs over to Premiere because it seems to have a mix of features somewhere between 7 and X. However, I am finding it a little hard to come to terms with the way Premiere handles codecs, timelines, transcode workflows, etc.
For example... In FCP 7 you would usually create a timeline that uses ProRes422, convert what you need (either log & ingest or batch conforming) and then edit with the ProRes footage and then export directly to ProRes for broadcast or Compressor for previews.
The upside being that all your rendered frames on the timeline are stored and ready for when you need to export.
With Premiere... It seems to 'not mind' when footage comes in Natively (C300, XDCAM MXFs, etc.)... Great! Except, using the workflow mentioned earlier leaves you with:
- A ProRes Timeline
- A tonne of unconformed media
- A rendered timeline that seems to have no bearing on the final export speed.
I'm flummoxed! Even when I've checked 'use preview files' (from a rendered timeline), I seem to have large waits on my hands. It's not hardware, we're fully tooled with new iMacs and even MacPros - I've tried all the different settings for CUDA, Mercury, Software Only, etc. etc.
So for an FCP user, can anyone recommend improvements to this workflow? What am I doing wrong? Premiere seems like a very good, solid & stable editor now (where previously it wasn't) but the export and render times are not leaving me impressed, especially when FCP X seems to leave it in the dust!
Any and all advice welcome - thanks very much!

The first important step is to forget about 'log & ingest' or 'batch conforming'. PR edits natively, thus saving you the time consuming conversion step before you can start editing.
Because PR edits natively, you don't end up with a ProRes timeline, but only with native material.
Conforming audio is still needed. Nothing can be done about that.
Rendering a timeline has no bearing at all on exporting. Rendering is only necessary in limited cases for preview purposes.
It is better not to check 'use preview files' when exporting, because it can lead to quality loss.
In general, copy your source material to a local hard drive, import with the Media Browser, create sequence from clip (so your sequence settings match your source material) and edit away. For preview purposes you may want to render the timeline occasionally. When done, you export to the destination format without using 'use preview files' or 'match sequence settings'.
If you find render times too long to your liking, you may need to increase your CPU power (more cores, higher clock-speed) and get more memory.

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