Transcode WorkFlow

I just upgraded from 7 to the latest version of 8.  My client airs 720 59.94, but shoots everything 1080 23.976.  Here's my workflow:

Create a 1080 23.976 Project

AMA link to all of the field footage (shot 1080 23.976)

Transcode all of my AMA footage in the 1080 23.976 project

Create a 720 59.94 project

Import my transcoded bins.

Edit and output to DVCPRO HD tape.

Is this still the preferred workflow?  I like transcoding my footage for stability.

Thanks!

Avid Media Composer 8.5.2

OS 10.9.5

Processor 3 GHz 8-Core Intel Xeon E5

Memory 64 GB 1866 MHz DDR3

Graphics: AMD FirePro D700 6144 MB

Mac Pro Late 2013