Heya Gribb,
Do you have the QuickTime MPEG-2 Playback Component installed?
https://store.apple.com/1-800-MY-APPLE/WebObjects/AppleStore.wa/6194000/wo/t57cuP8C3bSa2dgAO7o1vhfuz10/1.0.21.1.0.8.12.1.14.1.13.0
Although, before you rush out and buy it, I believe it installs with DVD Studio Pro. So, if you have DVD Studio Pro you might double-check if I’m remembering this correclty.
With this component, you’ll be able to import your MPEG2 files into FCP like other media.
Here’s some more info from the source (Apple):
The QuickTime MPEG-2 Playback Component provides QuickTime users with the ability to import and play back MPEG-2 content, including both multiplexed (also known as muxed, where the audio and video tracks are interleaved together into one track) and non-multiplexed (also known as elementary) streams. It is perfectly suited for professional and semi-professional content creators with projects such as:
* Professional content production — Throughout the professional content production process, many approvals and progress checks are necessary. With QuickTime and the QuickTime MPEG-2 Playback Component, your clients and reviewers can view your MPEG-2 streams on either a Mac or Windows-based PC, and provide feedback.
* Transcoding video content — Now your MPEG-2 video content can be imported into QuickTime Pro and exported to other formats such as MPEG-4, the new international standard for Internet media, QuickTime Movie, or DV Stream, to name a few. The QuickTime MPEG-2 Playback Component allows the transcode of MPEG-2 video from both multiplexed and elementary video streams. By transcoding your MPEG-2 video into other formats, it can be used in new forums, such as on the web, on CD-ROM, or on DV tape. Note that the QuickTime MPEG-2 Playback Component will not demux audio and video, nor will it enable audio transcoding.
-Warren