it's still a little buggy though - but its a start.
From the release notes:
AVCHD Support in Log and Transfer Window
The Log and Transfer window now supports transfer of AVCHD footage. For more information, choose Final Cut Pro > HD and Broadcast Formats.
Duration of Ingested AVCHD Clips Does Not Always Match Duration Shown in Log and Transfer Window
The Log and Transfer window shows an average duration for AVCHD clips, especially clips longer than 1 minute. After ingesting clips, the correct duration is displayed in the Final Cut Pro Browser.
Transcoded AVCHD Files Require Significantly More Disk Space Than Native AVCHD Files
When ingesting AVCHD files in the Log and Transfer window, video is transcoded to either the Apple ProRes 422 codec or the Apple Intermediate Codec. AVCHD has a much higher compression ratio than the Apple ProRes 422 codec, so the ingested files are significantly larger than the original files. For example, a 2-minute native AVCHD file is about 200 MB. After transcoding to the Apple ProRes 422 codec, the file size can be as large as 2 GB.
Final Cut Pro does not estimate the size of a transcoded AVCHD file before ingesting, so it is possible to exceed the available space on your capture disk during transfer. Before ingesting AVCHD footage, keep in mind that the disk space required is about ten times greater than the size of the native AVCHD file. To create smaller files during transfer, you can transcode AVCHD files to the Apple Intermediate Codec. For more information, choose Final Cut Pro > HD and Broadcast Formats.
AVCHD Clips Do Not Support In and Out Points in the Log and Transfer Window
When logging and transferring AVCHD footage in the Log and Transfer window, you cannot set In and Out points on clips; the entire length of a clip must be transferred.