How can you create a new project based on a clip's settings?
Drag a clip from the browser into the inspector.
Select the clip in the browser, Control-click, and choose New Sequence from Clip in the pop-up menu.
Press Command+N to create a new project, choose Custom under Video in the dialog box, and press OK.
Select the clip in the browser, Control-click, and choose New Project from the pop-up menu.