It looks like my editor of choice Pinnacle Studio Ultimate, doesn't handle MTS files, and as I've just bought a new Panasonic v720 this is a problem!
I have 3 choices as far as I can see:
1. Pre-Convert every MTS to mp4 using converter software... PITA!
2. Use iFrame mode (is this OK for PC of is it some sort of Mac specific format?
3. Start with a new video editor, any suggestions for something that hasn't got a silly learning curve (I am editting family footage to HD file and DVD