converting mxf to mp4

MXF is just a wrapper. The files are already mpg4.

Can you be more specific what you're trying to do, what NLE you're using?

EDIT:

Clarification... The camera files are mpg2 in a mpg4 wrapper which CB rewraps into a MXF wrapper.
 
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I second Jay on this; the XDCAM Viewer especially shines when playing back 24/25/30p material - the infamous "progressive stuttering" is virtually non-existent using it, which is a proof of the real quality of the Cinealta line of cameras in this mode.
 
That's a very good viewer Jay! First one I've used that permits my underpowered laptop to have smooth sharp playback with in-sync sound. Check the option box for the alterntative renderer.
 
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