Green is better in my opinion. It's a less likely color for people to wear.
I would drop your resolution to 720p. That way your bitrate information isn't being wasted on resolution. What I usually use for small feature screeners at my company is a H264 at 720p with a bitrate of 3.3mb/s.
To be honest it's cheaper to just send it out. Unless you shoot Super 8 every week and need it developed quickly, I don't see a need to do it yourself. The chemicals alone are really expensive and you generally can't buy in small quantities.
Is there a specific reason you're asking?
Oh I just reread your first post and I understand what you mean. I know that why is too. It's to optimize Premiere so it's not searching through a million folders to get to your material. Well it's more of a suggestion from Premiere. This is actually a larger problem in Resolve that I encounter. If you have files in layers of sub folders Resolve will have a hard time continually digging up the footage for playback. I've changed my file organization to accommodate for this issue in both programs and realizing that too many sub folders is obnoxious and not necessarily organized.
What type of footage are you trying to bring in? I would like to know more about this because I've been on premiere for about 10 years now and haven't had this issue.
I don't get what you mean ambiguous. There's definitely a standard and that's SDR which shows about 6 stops of range where HDR is 10. It's just that cameras are far more advanced in terms of HDR than Televisions are. SDR is about 100 nits and became a standard because CRT's have a max of 100. That standard just carried over to Rec709 because so many people were use to the look.