Apple's iMovie '11 and QuickTime Player X should be the apps required to solve my consumer-level problem, but they're not modern enough.
Are you saying iMovie '11 no longer imports AVCHD directly from a supported camcorder by converting it to AIC/Linear PCM at the size and standard specified for the new project? (Not a major iMovie user so I was unaware of such major changes if true.)

Thanks for posting the information. As I see it you have two work flows here. You can record the content as 1080p50 or 1080i50—not much of a surprise. If you recored at 1080p50 and want to reduce the frame rate to 25 fps, you will have to recompress the file to eliminate half the frames but the result remains progressive without comb artifacts. If you record at 1080i50, then the file will have to be deinterlaced or decombed (I believe QT X may automatically do this) but may have to deal with combing artifacts or decombing motion blur in merged progressive frame areas with high magnitude motion vectors.
Both types of recordings can be delt with using various software applications. If you are copying raw footage directly to your platform, the two that come to mind most quickly would be Voltaic and HandBrake.
Since I do not own an AVCHD camcorder, I don't have any personal experience with Voltiac but AVCHD users have frequently recommended it for the conversion of content copied directly from a camcorder to computer without benefit of conversion by a video editor. As I understand it, this app is basically a QT 7 Pro converter with built-in support for raw AVCHD/AC3 video files. Like QT 7 Pro, it will allow you to either deinterlace 1080i50 content or reduce 1080p50 content to a user selected frame rate at 1080, 720 or SD resolutions using custom or Apple mobile device target settings.
My personal choice would probably be HandBrake here but that is because I am both more familiar with it and it offers more user options which you have yet to indicate may be of importance to you. For instance, I normally convert using an anamorphic strategy so as to transcode the souce file using its original encode matrix and may or may not correct the output display as needed or change non-anamorphic content into anamorphic content to both conserve storage space and increase bandwidth efficiency for multiple TV device sharing my home networks. In addition a can create multiple custom export presets based on the resolution, complexity, or quality of the content being processed.
And, while frame rate is of less importance to HDTV users than analog TV viewers, this app also contains some specific frame rate options which will likely be of interest to you. For instance, your 1080p50 content can be exported using a 25 fps "Peak Framerate (VFR)" popup settings that will limit the final frame rate to a maximum of 25 fps and vary the time between successive frames to try and retain the perceptual quality of the 50 fps source file. Or, if you prefer, you can switch to a 25 fps "Constant" frame rate if you prefer. In addition, if you end up recording any 1080i50 files, you can select between the deinterlace or decomb options. (I tend to prefer the default setting for the the latter myself.) In addition, you have not indicated the target use for your movies and HandBrake seems to provide a very good balance between single-pass conversion time and final quality while probably cutting your file size in half for the same resolution depending on you actual settings.
Wanted to test Compressor so I stated a 2 hour plus file this morning. Unfortunately, it has been running for 9 hours and now says it won't finish for another 24. So much for speed in converting BD content using the 2-pass 10 Mbps TV2 target with both DD5.1 AC3 and AAC stereo audio. And that didn't include putting the data in an MOV file container so it would open in Compressor 4. (Same source file only takes 2-3 hours for the HandBrake single-pass conversion.) Guess I wont be using this work flow again but i figure I'll let it continue so I can evaluate the final results. (Probably just my luck the program will crash sometime tonight while I'm sleeping.)
In any event, you may want to run a couple of short test files through one of the conversion work processes and see if the results meet your requirements or create more problems than they cure.
