If you're using Mavericks, just use iMovie 10 (aka iMovie '13) instead of iMovie '11, '09 or '08.
- natively reads MTS files (no need to rewrap/remux) now
- natively handles 50p / 60p input
- no longer suffers from the single-field processing limitation when using 50i / 60i Interlaced input, resulting in better quality output
- exports to MP4 format which can be played on many devices (e.g. TV) without conversion
I have been following the with interest for the past 5 years!! Well done Apple!!!
This is a joke - i bought my iMac in 2009 with a view to editing high quality home video HD footage and after MANY enquiries with Apple Tech Support was given the resounding disclosure that "iMovie is just a toy bundled for free.... if you want something better then you need a better program!!!".
Sp here we are, another update from Apple saying that AVCHD is now supported (albeit much later than Windows based products which I had to resort using through bootcamp on the iMac) and still now it exports to MP4!!! Will this ever be something good?