MOV format files in general from a still Camera will present an editing challenge to PE. This is not unique to PE, but would be seen across many of the NLE's (non-linear-editors) found in the market place (at this pont in time).
Bottom line is that trying to use MOV files natively with PE will be difficult, if not impossible.
(The NLE that addresses this in the future, will be a game changer, eventually everyone will have a Still Camera that shoots highly compressed HD Video and will want to easily edit it)...
Review this article from B&H Photo, although not specific to your Camera, it does mention the Canon Rebel, and it will give you a sense of the challenge with video from Still Image Cameras.
You may be better served, converting to a more favorable Format for editing, but then you may need to contend with possible loss of Quality or a down convert from the Format the Camera will export to.
Probably not the answer you wanted to hear, but I'm sure others will chime in with a decent workflow to help you along...
Would a program like this be ok to use to convert the file? And if the end result is putting it onto Blu Ray, which format would be best and highest quality to convert to?
I do not currently work in HD and Bluray, so I may not be the best source of info.
Others who work with HD are sure to see this and recommend a convert format.
The B&H link did mention MPEG Streamclip from Squared 5, using an HD Codec on output for PC Users, but did not indicate specifics.
Many folks are a big advocate of Freeware, so I would wait on some posts along these lines, before laying out any of your hard earned cash...
I've not found a .MOV file in my own system that PRE7 cannot load. However editing .MOV is not recommended. So you could load it into PRE then export it from the Share> Personal Computer as DV-AVI.
Once you have it in DV-AVI load it into PRE and away you go.
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