When you compress for DVD – making mpeg2 compliant files – you set the data rate.
Start around 6mb/s and see how large file you have. Keep dialing it in until you’re around 4GB for the vid track.
This way you are Maximizing the quality to space ratio.
FCP is all set to L&T P2 Material shot in DVCPROHD codec.
You shouldn’t need to hunt down anything extra or new.
Have you off-loaded the card media onto the computer 1st?
Do you have P2CMS software free from Panasonic?
You can use that to off-load cards and VERIFY as you transfer but you can also look at the clips and play them there.