Voltaic is good – converts mts to quicktime with minimal to no loss in quality (I’m not an expert on such matters – maybe someone would care to elaborate). The problem is that it takes an absolute age to convert.
On my latest project – a music video for a band – it took over three days to convert all the files, and being raw Quicktime files took many gigabytes to store – I was hoping there was a workaround which would allow me to edit in ProRes / another Final Cut format (while using the mts files are reference) and upscale (again using the raw mts files) and output the final product in the highest resolution seeing as the mts exist in the higher quality.
I should also point out I am using Final Cut 6.0.4 at the moment.