It would be great to be able to select sequences and just reduce the project itself without having to consolidate and transcode. Basically just the ability to effect the project and not the media.
@andrea_stewart Select the sequence and clips you want and then choose File > Export > Selection as Premiere Project. This will save a new .prproj to the location you choose, with only the sequences you selected and the clips that are part of that sequence.
Hey Matt! Good to know that exists. I am in the most current Beta (updated today) and it is greyed out. Doesn't matter whether I select one or multiple sequences.