Version 10 will not edit this format well.
Version 11 or later, on the other hand, will not only edit this video very well but will automatically set up their project files to match your video. I'd recommend you download the free trial of version 15 and give it a test drive. I think you'll be happy with the results.
This is assuming, of course, that this is camcorder video. Video from non-camcorder sources (like screen recorders like SnagIt and FRAPS) may include variable frame rates which can cause issues.
Thanks Steve,,, I might as well try 15 and see how it is...