First off, I use a late 2009 21.5 inch iMac with an Intel 3.06 Ghz core 2 Duo, 12 Gigs Ram, and an Nvidia Geforce, 9400 265 mb with Mountain Lion . And all drivers up to date.
I've been having this issue for a while and with the increased work load I have been taking on, its now becoming unbearable. Every time I import Elgato Hd Footage (720p 60 FPS at high to even lowest quality) The import can take hours, Almost as long and often longer than the video even is. I thought it was a codec problem, but I have a friends footage I'm also editing that I have to convert and it gets converted to mp4 with a h264 codec as well. (Image being added below) And his imports just in a few short minutes. I have tried converting my footage as well but this does not seem to help and the only other file format I can do is MKV which adobe doesn't seem to take.
My friend footage is in the properties to the left, and Mine are on thee right. I understand there is a difference in file size and duration, but it doesn't seem like it should be making this big of a difference, where his imports in about 2 minutes when mine is in hours. This even happens if I open up the project after saving, it takes hours for it to simply load up the video. I have also tried this with videos in smaller sizes and the results seem scaled almost the same.