I apologize if this question is answered in the numerous threads regarding 60p video from the TM700, but I couldn't find the answer. From the other threads, I realize that I can't directly edit my 1080 60p video within PEL9. If I want to create a standard def video, do I need to convert the video from 60p to standard def before adding it to the PEL9 project or is the video converted when I export the completed project to a file? If I need to convert first, any advice on what (hopefully free) software to use? I also need to make some short HD clips to share online, since I can't edit in 60p, I guess I would have to convert to a standard (720 30p? 1080 30?) HD format also. Thanks for any advice!
If the Panasonic camcorder comes with video editing software, it may be able to convert the video for you and it would be your best choice.
Otherwise, most of these Panasonic camcorders that shoot in 60p have the option of also shooting in 60i. That would be your best choice.
Otherwise, as you say, you can not successfully edit 1080 60p video in Premiere Elements (or virtually any consumer video editing program). Premiere Elements does, however, have the ability to work with 1280x720 video at 60p. But that's as close as it gets.