Can't edit video recorded in ProRess 422 in FCPX– ? Frame rate issues?

I am hopelessly lost and need some serious help.
For several years I've used FCPX to edit video that was recorded and encoded in the h.264 format using Wirecast as the encoder. I had no problems but I decided I wanted better quality video so I have been trying to record my video to the ProRes 422 format. This decision so far has been a disaster for me.
I am using a Panasonic HCX920 to capture the video to my computer via a Blackmagic Ultrastudio Mini Recorder. Wirecast sees the video as 1080i at 59.94 fps. I have Wirecast set to encode ProRes 422 at 29.97 fps since there is no option for 59.94. The resulting video plays fine with QT 7. It shows a frame rate of "29.81" and a playing frame rate that varies between 28-30 fps. Get Info shows the video to be "Apple ProRes 422, Linear PCM".

After importing the video into FCPX the Task window shows "Importing Media" progress bar. If I do nothing at this point it takes about 2 hours for this task to complete. During this time I am unable to play the imported movie in the Event Library. I get the "Video Frames were dropped during playback" warning.
In the Project Properties window I see this: "1920x1080 | 59.94p". If I transcode the media to proxy media I am finally able to edit the video once the transcoding is complete.

My machine is a 2x 2.66 GHz Quad Core Mac Pro with 20 GB RAM.

Any help or suggestions will be greatly appreciated.
John

Without seeing your footage, I would have to guess that there's a problem with your original Wirecast recording.

It doesn't seem like it was encoded properly based on the fact that QT 7 reads the frame rate as "29.81"

This is a non-standard video frame rate.

You can use QT 7 to export new media with a proper frame rate of 29.97, but It sounds like you've already completed transcoding all the footage inside of FCPX.

Perhaps you could go back to using h.264 in the future. It takes up far less space, and the image quality is not going to be noticeably different for most applications. (Unless you're doing film out or television broadcast, nobody will see the compression.)

With that said,I find that it's always a good idea to test a workflow before committing an entire project or show. So, if you're not happy with the h.264, then maybe you could experiment with other codecs that Wirecast supports with your Blackmagic recorder to see what the best combination would be to work with.