What is the best way to convert my MOV H.264 files off my Canon T2i for editing in premiere. I've heard several people say that H.264 is NOT an editing codec, and it seems to be true. I am editing a shoot with the files directly off the camera and IT IS SLOW! When you go to export in Premiere it says that AVI files are what you should use for editing in Premiere, but my problem is that I don't know which is the best codec and quality to use. I want Full HD but I'm not sure how to transcode without losing quality. Any suggestions? Please help! Thanks.
Unfortunately, video from the Rebel series isn't supported natively in Premiere Elements 9. (Though it's worth a try. Have you tried one of the DSLR presets that matches your video's resolution?)
The BEST solution is to convert the video to a 1440x1080 MPEG/M2T using Quicktime Pro ($29 from Apple). 1440x1080, as you probably know, is the anamorphic version of 1920x1080, so it is the same resolution.
A 1440x1080 MPEG/M2T video should work perfectly with Premiere Elements' HDV project preset.
Remember: The test to see if you're using the ideal preset is that, when you add the video to your timeline, it will appear without a red line above it.
If you are seeing no red lines above your video but your video editing is still slow, it is most likely an indicator that your computer is not powerful enough to edit hi-def video or that it is not properly tuned.
If you're interested, there are much more detailed explanations for all of this in my books, available on Amazon and at Muvipix.com.