Trish this is amazing, thank you!
>Also Enable the 3D switch, and you can Transform the layer in 3D just as if the layers in the Precomp were children of this "null" parent. Rather than transforming a 2D image, it's now applying its Transformation values to the layers in the Precomp individually.
This is what I was having issues with. I went back and tried to do the same thing I was trying before and now it works. Not sure what I was doing wrong, but previously, when I would turn on collapse transforms AND the 3D switch, the layers were jumping around in 3D space. And then I think I was trying to control the sublayer position in z space using the 2D, collapsed precomp and it was moving as you said, like a 3D object parented to a 2D null. I've been working in AE for over ten years and it's still confusing! (taught myself with Creating Motion Graphics 2nd edition of course) Great explanation.
-TG