Videomaker – Learn video production and editing, camera reviews › Forums › Technique › Editing › AVCHD to MPEG2 › “Edit” is a broad term. Some
"Edit" is a broad term. Some software doesn't play the MTS/M2TS (AVCHD) files at all and some not well. I've never had an issue with editing it natively in Premiere Pro. I've never had much issue color correcting or grading in Color finesse trough after effects either. Apple Final Cut users have always had a bear with it though and had to re-wrap with something like clip wrap or transcode to another format for editing.
Last fall I switched to using Da Vinci Resolve lite to color grade in, which is crazy awesome however, it would not see my M2TS files from myt FS-100 or VG-10. MP4 from my action cam but not the M2TS files. So I had to come up with a workflow for it.
I messed with a lot of different formats and just re-wrapping the container and came up with a few solutions. You can rewrap in a software like AWPro, which has a free version, to say an MP4 if you need a software to recognize the files that cant see M2TS or transcode to another format.
Transcoding can have some benefit in going from an 8bit color space to a 10 bit but I won't kid you that it will always be even noticable. Some times you can see a big difference sometimes not but if you are into color grading it can become just part of the work flow. Transcoding also has the benefit of producing files you can send to about anyone without worrying if they can use them or not. So to re-wrap or transcode comes down to what you need to do.
I've transcoded to a lot of different codecs/formats and settled on cineform like many others have. It's a fast transcode and a good codec that holds up pretty good injust about anything and it doesn't produce extreme file sizes like transcoding to something like Avids DNxHD codec. You can download the codec for free.
I'm not sure what version of PP you are using but with Adobe Media Encoder you can just dump all the files in it after you download them from your camera and set the preset and do them in a batch in the background while you do other things. It would be much faster than going to PP first. That's what I do to transcode to cineform or any other codec actually and then go eat or something and come back to a new folder and files in a new codec.
I wouldn't tell you that MPEG2 is bad (its certainly not) but depending on what you are doing, there may be better options and if you can transcode to formats others can use and still meet your needs it can be a good "Future proof" thing to do. But when you get into transcoding and such its really based on what you need to do with it cause you can really complicate things and slow down your workflow.
I've done a lot of videos for the internet and never transcoded or rewrapped a thing and just editied the M2TS files in PP no problem. YMMV on how your machine works with the file sizes.