But that is only a temporary solution, as once the sequence is rendered and you decide to change one or more clips (duration or position or something else) you have to render the clip(s) again, which is not necessary when the clip(s) and the timeline (sequence) correspond in its settings.
If you have DV PAL 16:9 25p footage with 48kHz audio in 16bit (uncompressed, not mp3s), the sequence should be DV PAL 16:9 25p with 48kHz and 16bit audio.
The same goes for 720p, 1080i and 1080p and all the other formats there.
That's why I like Avid more, because during capture/import the footage gets converted to the right format, but which also means, that one can't have different timeline settings in one project (eg. a PAL 25p sequence and a 720p one). One has to create a new project therefore.