Thanks. I figured it was something obvious.
I am using the latest mac (intel 8-core, 14 gb ram, leopard) and running the 24p firmware update with my canon 5d.
I tried it on final cut pro 7 and had the same issue, i considered converting my footage to proRes, but i didnt want the huge file sizes, since i am not using Raid drives or anything.
Thanks for the knowledge,
Luis