I use the Sony FS700 with the Odyssey 7Q and often record to Cinema DNG format and have been struggling for awhile trying to figure out a sound workflow for editing/grading. As I searched for one, I realized that many other people were having the same issues as I was. So, here is one way (not the only way) that I have found to work pretty well. Pictures below.
1. Import DNGs in to Resolve
2. Basic Trimming on clips to save space and time when exporting proxies
3. Basic Color Correction (optional)
4. Deliver – Set to Export to Final Cut, and set your format to export as DNxHD
**36mb/sec if your computer can’t handle editing anything more than that**
5. In Resolve, go back to Edit and export XML of the Timeline and save to same place as the exported files
6. Open PPro and Import XML
7. Do basic blocking and tackling for edits in PPro
**Keep in mind time remapping (rate stretch still works though), nests, PPro titles, AE comps and various effects may not transfer back to Resolve for your trip back there. Keep things simple for this, and be sure to move everything down as close to one track of video if possible.**
8. Export XML from PPro
9. Import XML in Resolve and uncheck “auto import”
10. Do your final grades to each clip
11. Deliver – Set to QuickTime Uncompressed 10bit RGB (these will be massive files)
12. In PPro – right click on folder of proxied footage and select “Make Offline”, then right click again and “Link Media” to the selected destination where you saved your final graded clips.
13. Turn on VFX, titles, AE comps, nests, time ramps, etc.
9. Import XML in to Resolve. Be sure to uncheck the Auto Import clips
10. All your edits should be there and lined up and now you can do your final grades on only that section of the clip vs. the entire clip.
11. Exporting your final clips for final editing. Leave your Render Settings Preset to “None”. I generally use the QuickTime Format and the Uncompressed RGB 10-Bit Codec for my finals, but these take up a shit ton of space, so be sure you have enough before you hit export.
14. Pretty simple step, finding your footage in your “Graded” folder. Find one, and you’ll find them all.
15. Yay! You have fully graded, high quality clips in PPro and you’re able to do your full edit.