FCPX down scaling?

Is there a preference I am missing? Hopefully you can help me...

Lets say I have shot some footage in 1080 but have created a 720 timeline so that I have more room to work with my clips (resizing, etc.)

When I place the 1080 footage on the 720 time line it seems to scale the clip down to fit onto the 720 canvas. I'll see the full image and the inspector will show that its at 100%

In premiere there is an option to turn "Down Scale to Frame Size" off. Where is this in FCPX? What am I missing here, guys?

Thanks.

Spatial conform. Change fit to none.

Yes, changing the "Spatial Conform" setting to "None" will show you a percentage that represents how much of the original 1080 footage will fit in a 720 timeline.

When the setting is set to "Fit", the percentage represents the whole image (100%) no matter what the original resolution was.

But the thing with FCPX is that even if you keep the setting to "Fit", you can still change the size to your liking without loosing quality, even if you go above 100% (as long as the spatial resolution of the clip is higher than the resolution of the final sequence).

So, in the end, the "Spatial Conform" setting is just changing how the image size parameter is measured or represented... but it doesn't have an effect on the final quality.

Of course, it's much easier to set it to "None" so you can notice when you start to blow up your footage (above 100%).