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Being in the UK, you should be using PAL for both your Projects, and also for the shooting mode on your camera, if it offers PAL & NTSC. Many do, but some are Region-specific. Check your camera and its settings.
Now, besides the Region, there are other factors, such as Frame Size, FPS, etc., that must match also. Insure that they do.
If one set an AVCHD Project, but their footage was AVCHD-Lite, or something else, there would be a mis-match, and this would not be good. Issues can certainly crop up.
Though I installed my copy of PrE on a US machine, I have all of the PAL Presets, and could choose one, were I faced with PAL footage, and needed PAL output. IIRC, the Project Preset is "sticky," in that it will default to the last chosen Preset, even after a reboot. I do not think that Adobe has changed this, but will wait to hear from others, with newer versions of the program.
Good luck, and check every aspect, plus your camera and its settings.
Your camcorder does shoot in 30i fps. So, yes, I'd recommend you use the Full HD NTSC 1920x1080 AVCHD preset with stereo audio. You may also want to change the suffix on the video from .mp4 to .m2t. I'd ignore any Project Mismatch warnings.
Although I would recommend that you only shoot in Full HD 1920x1080 mode. (The camcorder shoots in a number of formats and quality levels.)
Ideally, this video will appear on your timeline with NO red lines above the clips until you add effects or transitions to them. This indicates a perfect match between source video and project settings.
However, it may not go. These camcorders are not made to produce video in a universally editable format. Even the manufacturers sell them as shoot-and-upload-to-YouTube cameras. So your wisest move may be to limit your editing to the software that comes bundled with teh camcorder.
Thanks again for the quick responses.
Great, I'll look into this over the weekend!
It does appear that no red lines are above the clips, so I guess it's perfect match using NTSC, how funny. Great.