Adobe In CS3.1 claimed that it had when you can use the mxf files p2, in fact, have tried many times to no avail. Estimates is necessary codec.
Now the new AVCHD Not tested but is said can also be used.
I am using the Final Cut Pro 6.1 for conversion. Files can be edited when it is impossible to playback in the external monitor. The need for rendering into a supported format can be.