I load my P2 footage onto a hard drive. Connect the HD to my PC and open AVID (make sure you set the correct project type, in my case we shoot 720p/23.976)
In the file menu, go down to ‘import P2’ and then ‘clips to bin’ Choose your HD with the media on it.
You should see your footage in your bin. The footage is in DVCpro HD. If you want to make things run faster, ‘transcode’ the media to DNxHD (AVIDs HD codec) My machine runs much better with DNxHD media. The quality is still high, fine for rough cutting.