I have searched everywhere and am getting conflicting reports. Does Premiere Pro cs3 support Canon's HD camcorder .MTS files? if not, what product do i need to switch to in order to edit my video. Having to transcode video in order to edit it is a stupid idea and shouldn't have to be part of a digital to digital work flow.
I can't believe that Adobe would put in all this HD video editing support into Premiere without supporting the file format from the cameras.