I currently have video files in .mxf format. I am looking to sign up for Premiere Elements because it seems like a more user-friendly video editing tool. I have learned thru other forums that the Premiere Elements would not accept .mxf files and I would need to convert the files. What file format should I convert to? What converter should I use? The end use for my videos is to play on a DVD player and to post on social media and a website. I have heard of these 2 converters... https://handbrake.fr/ and https://itunes.apple.com/us/app/free-mxf-converter/id883995978?mt=12
This thread that we are in now appears to be a continuation of the thread that you posted regard you plans for purchasing Premiere Elements and your question on would you be able to edit .mxf files with it.
From that other thread, you were told that Premiere Elements (any version) does not support files with the .mfx file extension, and we learn that you will be using a Mac computer.
Consider converting your MPEG2.mxf to H.264.mp4. HandBrake is free and can be used on Windows or Mac and converts to H.264.mp4 file. Do a mini test run to determine the quality of your HandBrake export. But, the choice is up to you based on your results of exploration and experimentation with your particular video source.
But consider the quality dip that is expected just on a resolution level if you are going from HD MPEG2.MXF to DVD-VIDEO widescreen on DVD disc.