As you are on Mac you can use what people were using before HAP which was mostly ProRes. Youve also got the option of image sequences.
Transcode speed, you will find encoding to FlexRes Quality will give you great quality and be double as fast encoding than it is to encode to FlexRes performance. Of course FlexRes Quality will look great however you can play less layers with FlexRes Quality than FlexRes Performance.
If you were using windows I would reccommend downloading our FlexRes Tools so you can encode straight to FlexRes with out using an intermediary codec.