Andi
For the new cameras using AVCHD there is no editor out yet that will edit it natively, though there will be software shortly, Sony, Panasonic etc.
Canopus has released a convertor which allows it to be editied in Edius - the press release is in Japanese
http://www.canopus.co.jp/press/2006/avchd.htm
Babel Fish Translation
In English:
The Canopus corporation, “AVCHD” standard * “Canopus HQ Codec” * converts the image which photographed with the digital video camera of 1, to 2, the tool “Canopus AVCHD converter which” makes light compilation possible from December 22nd, starts the gratuitousness offer with download. * It is standard in order Matsushita Electric Industrial Co., Ltd. and SONY developed jointly concerning 1 AVCHD, to record the hi-vision signal to memory card /DVD/HDD. MPEG-4 AVC/H.264 system is adopted to image compression, high pressure reduction ratio high picture quality treble quality with merit, Canopus has connected name at approval enterprise. * Canopus developed individually concerning 2 Canopus HQ Codec, the high picture quality image codec. High picture quality above lightening of the data file with high-level compressed technology and the hi-vision deck for business it has been compatible. It is on-board onto the Canopus product of EDIUS series loading. “Canopus AVCHD converter”, the image which is recorded with the up-to-date AVCHD cam coder, the nonlinear video compilation software “EDIUS Pro version 4 which” has the introduction result many in high ended image production market such as broadcasting station and, is core technology of entry model “EDIUS 3 for HDV”, in by the fact that the file it converts “Canopus HQ Codec”, it is the solution which actualizes light compilation on those nonlinear video compilation software. As for the cam coder of AVCHD which recently, increases the speed of spread suddenly, correspondence to soft record media such as SD memory and DVD and hard disk is big merit. But, while data capacity is small, when it handles with video compilation, enormous computing being necessary, light compilation job assumed that you cannot desire. This time announced as for “Canopus AVCHD converter”, to by the fact that it converts “Canopus HQ Codec”, with “EDIUS Pro it is possible high picture quality without impairing the image of AVCHD, to do comfortable image compilation version 4” and “the EDIUS 3 for HDV” top.
http://www.canopus.co.jp/download/drivers/winxp/avchd_converter.exe
And a Plug In is out there for Premiere which seems to work to some degree, though not formally support AVCHD
http://www.canopus.co.jp/catalog/edius_pro/edius_pro4_index.php
Not sure how well either one works though.
Quicktime Pro also allows some editing/transcoding of MPEG-4 format, not sure if it works on AVCHD but I have used it on other forms of MPEG-4, but if I can find a file I can let you know.
There is also other software out there which transcodes from one codec to another “editable” one, but would probably results in some loss of quality (sometimes more theory than actual loss) depending on the original source footage.
Since AVCHD is H.264 based, may be worth trying - http://www.squared5.com, very good application and does a real good job converting items to editable formats and can often retain alot of quality