Now that we have the actual model, we can look more into the cam itself. Correct me if wrong, but I thought that FCP 6.0.2 running on an Intel Mac could import AVC via the Log and Transfer window? So you need two things, first and foremost an Intel Mac. In order to do anything on a Mac with AVC, you need an Intel Mac (again I'm pretty but not 100% sure). Secondly, you'd need at least FCP 6.0.2. You said you used to do video editing, so I don't know what version you have. I took a look at the specs and it specifically says "Format : MPEG4 AVC/H.264 (MP4)" so as long as Sony hasn't messed around with making it's own implementation of AVC (I don't see why they would) then FCP 6.0.2 or iMovie '08 or later would both work with the AVC files natively. You'd need to export them from FCP to bring into DVDSP anyways, however I don't know if it would be as simple as Export->Quicktime Movie of if you'd need to go through Compressor. Anyone here work with AVC? You might be better served searching the forums (here, creative cow, etc.) for AVC workflows, and if you never find an answer to your other questions, by all means post another question here and I'm sure someone will be able to answer it, but right now AVC users don't necessarily know that this thread has turned into AVC workflows.
G'luck,
-Brian