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DNxHD, by a large margin. However, a fast PC can edit AVCHD quite easily. It's just that PPro has particular problems with it.
I am using CS6 and have Avid. Is it possible to add the Avid Codecs to Premiere, Encoder and Prelude? I understand there are downloads for CC, will they work in CS6?
You can download the Avid DNxHD codecs from the Avid site. They'll be available to everything in CS6. However, I don't believe you can export .mfx files from CS6, using those codecs (it will be .mov) That's something new for CC.