In searching on "m3u" on
Doug's Applescripts for iTunes, I find only two scripts, one for deleting m3u files left over from streaming radio sites and one for deleting MPEG audio streams that were loaded into iTunes, perhaps by m3u files.
You should be able to play an m3u playlist in iTunes by double-clicking on it. Once it has played, you could select all the songs that were played (look in the Recently Played smart list), control-clicking on the selection, and going to File > New Playlist from Selection. This will make a normal (non-dynamic) playlist of the selected songs.
BTW, I just noticed you keep referring to MU3 files which I originally misread as m3u. MU3 is not an extension I am aware of and this extension is not listed at fileinfo.net. The m3u format was created for WinAmp and is now used by a broad range of audio programs.