For a conventional flat video I would separate the “360 conversion/reframe” stage from the normal timeline edit. The proprietary camera file is not the most convenient thing to carry through every edit operation.

Do a first pass where you decide which moments actually need reframing, render usable clips from the 360 source, then cut those clips in your main editor. It keeps the project lighter and makes audio, titles and transitions much easier.

Would you reframe every clip completely before the main edit? My concern is that I might choose a left-facing view and later discover that the right side of the same 360 shot works better after I see it next to the previous scene.

For important shots I would keep the 360 master and postpone the final camera move until the rough cut tells you what you need. A practical compromise is to make temporary flat renders for the rough edit, then revisit only the selected shots and refine the reframing.

GoPro Player is the natural first tool for decoding/reframing MAX material. Once you have an editable equirectangular or flat render, you can finish in VSDC, Resolve, Premiere or another NLE. VSDC also has 360 tools, but I would not turn the whole project into a chain of unnecessary conversions just because several applications can touch 360 footage.

The “temporary flat render” approach saved me a lot of time on a ski project. I made quick reframes for the edit, locked the story, then only re-rendered the 14 shots that actually survived the final cut.

It also made vertical versions easier because I could go back to the same 360 masters and create different framing for 9:16 instead of cropping the finished 16:9 video.

That sounds much more manageable. I was trying to fully finish every shot before I even knew whether it would be used. I will keep the MAX masters, use quick reframes for the rough cut, then polish only the selected shots.