If you want to edit individual anamorphic clips into a letterboxed sequence:

1 In your new Sequence settings, make sure "Anamorphic 16:9" is NOT checked.
2 Make sure your footage is flagged as Anamorphic 16:9
(you can do this as you capture, or later in your Project Bin columns).
3 Drop the clips, and they are automatically letterboxed to the 4:3 frame.
4 Render out the sequence before printing to video.

Whole 16:9 sequences seem to behave erratically. Here's the workaround:

1 Edit your 16:9 Sequence to finish. Render all your effects etc.
2 Export it as a Reference Movie: Export -> QuicTime Move (do not click "Re-compress frames" or "Make Move Self-contained").

This speeds up the export process (as it only refrences the rendered files on your disc).
It also takes up much less space
3 Import this exported file into your project.
4 Flag it as Anamorphic in your Bin (the anamorphic column is by default very far to the right in the Bin window).
5 Drop this file into a pristine 4:3 Sequence.
6 Render out.

Although the Canvas can look the same as when converting 4:3 clips to anamorphic widescreen (depending on how your Canvas is set up), Final Cut is really letterboxing the anamorphic content to the 4:3 frame.

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