Bryan, you don’t need to transcode anything. Shoot, drag your files into Premiere and edit – that’s the best workflow.
In the 10 years that I’ve been in this business, I have yet to see one single example of where an intermediary codec (Cineform, Prores or DNxHD) has any impact on the quality of the footage.
Computers today are more than capable of handling interframe codecs like AVCHD and H.264 in real time, and more. You don’t need the high data rates of intraframe codecs.
Hope this helps.
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