I've been able to take the MTS files into Premiere, edit them in 60P format, and output either to H.264 at 30P, or to huge Cineform based AVI files at 60P. Both of these formats work through Windows Media Player on several PC's, which was my output goal. However, the AVI file is huge - like 2GB/min.
I'm also able to output H.264 at 60P using 50Mbps target, 80Mbps max, and create files that are 20GB/hour which works fine for me and the quality appears as high as the larger AVI file. It plays back extremely well on my high end PC with a GTX470 video card. However it won't playback in my other PC's with lesser video cards, which hardly makes it portable.
What CPU (rather than GPU) based players are there that should be able to playback H.264 at 60P on a regular quad core PC?
I've tried Splash, Shark007, VLC, either I just don't know how best to configire them, or they don't work for smooth 60P playback.