In this tutorial we learn how to transcode a multicam shoot into a proxy media format suitable for real-time camera angle switching. We then see how to link back to the original source media for finishing. Next, we flattened the multicam edit, mix it down to a high-quality DNxHD codec and output it as a QuickTime Reference. Finally we transcoded the QT Ref file to a YouTube-friendly format using Video Mastering Works.
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OK - I put this together much faster than I had anticipated. It plays pretty quickly and I glaze over a few operations that should probably have a bit more detail. Let me know in the comments for the video if you would like me to break this down further.