If you have the camera, your best bet is to shoot a minute of footage with it and see if it will import to iMovie. I think it will. Check your owners manual for recording mode. You should have several choices, including 50P, 50i, 25P and iFrame. If you choose 50i, 25P, or iFrame, it will work with iMovie. If you choose 50P, it will not be editable in iMovie without some bit twiddling. I think you will like 25P the best, but if you are shooting sports, you should also try 50i. In fact, try it anyway so you get to see both and choose the one you prefer.
iFrame produces movies that will look almost as good as the AVCHD (you probably will not be able to tell the difference) but the import is much quicker, and the fill sizes are much smaller.
Let me seeif I can decipher the manual for you.
"This unit is based on AVCHD format/MPEG-4 AVC file format.
Video signals for the AVCHD that can be played back with this unit are 1920x1080/50i, 1920x1080/25p and 1440x1080/50i. Video signals for the iFrame that can be played back with this unit are 960x540/25p
Like I said, stick to 50i or 25P if you want to edit in iMovie and/or play back on a TV set. Use 1920x1080 for highest quality (but this will also be the biggest file size. 50i and 25P are about the same in file size. (50P would be 4 times bigger in file size - but do not use 50P mode if you want to edit it.)
When motion picture is recorded in iFrame format
You can play back on Mac (iMovie11)
It is not compatable with motion pictures recorded in AVCHD format."
This means basically that you can edit and play on the Mac. From there you can share to a Blu Ray, DVD, Apple TV, iPod, iPad, iPhone, the Web, etc. etc. The key message is that you cannot edit the iFrame on a Windows computer.
It is also possible to record in 1920x1080/50p at maximum quality.
Quote-
"The scenes recorded in 1080/50p can be saved or played back by this unit or the HD writer AE 3.0"
It is possible to record in 50P at maximum quality, but what they are telling you is that you will be limited to playing it back on the camera. Television sets will not play 50P. iMovie will not natively edit 50P. I assume the HD writer AE 3.0 is a proprietary Panasonic disc burning program. It is likely Windows only, so it will not work on your Mac.
If you want to edit 50P on your Mac, here is an excellent blog post on how to do it. You can judge for yourself whether you feel comfortable doing it.
From the above, can I move HD from this unit into iMovie and edit without too much hassle or do I return it and stick with the perfectly decent 5 year old Sony not in HD that just 'works'. I have happily played with iMovie for 3 years and want to be able to tidy up family videos.
If I were you, I would keep it and shoot at 25P. I think you will really like the HD quality.
Keep in mind that if your final result is DVD, then evertying will be converted back to standard definition anyway. You will need to find new ways to share your results with your family.
The Apple TV is a great way to do this. Also YouTube does a great job these days making it easy to share 1080P video with friends and family. Finally, you can invest in a BluRay device. I don't generally recommend this, because if you want to give copies to family or friends, they would need a BluRay player as well.
There are a lot of nuances to BluRay. Come back and ask if you want to go that route.
Good luck.