Hello, Jeff the musician,
Welcome to the discussions!
I think you are on the right track. Your Panasonic is a hard-drive camcorder that uses the MPEG-2 format. Once you get your movies off your camcorder and onto your computer they will be in the .mov format.
iMovie HD6 accepts footage in .dv format ONLY, so converting those .mov files to .DV is imperative.
I assume you mean Streamclip?
http://www.squared5.com/svideo/mpeg-streamclip-mac.html free download here.
You are correct....you also need Apple's MPG 2 playback component (about $20). Once you have both of them, open Streamclip and drag one of your .mov files onto it. Then select 'Export to DV' and specify the location for the new clip.
Once the .dv clips are created, you can drag them into iMovie HD 6.