the free P2 DVCproHD transcoder available on Panny's site is the most convenient for me.
fast transcode times, smaller file sizes than cineform or dnxhd avi clips, and mac users can edit it too.
get it here:
https://eww.pavc.panasonic.co.jp/pro-av/support/desk/e/download.htm#avchd
the downside everyone will tell you is that your full HD 1920x1080p clips will be converted to 1440x1080p. for my work i can't detect any loss in quality and the smaller file sizes and mac-compatibility are worth it.
if that doesn't cut the mustard,
use Avid's free DNxHD codec:
http://cdn.pinnaclesys.com/SupportFiles/attach/PC_AvidCodecsLE_2.1.zip
this only includes the codecs, so you'll need an application like TMPGEnc to actually process the transcodes.
i realize i mistakenly said that DNxHD was an avi codec, but it's wrapped in quicktime.
this is very high quality, with lots of different settings, and same file sizes as Canopus or Cineform codecs.
fast transcode times, smaller file sizes than cineform or dnxhd avi clips, and mac users can edit it too.
get it here:
https://eww.pavc.panasonic.co.jp/pro-av/support/desk/e/download.htm#avchd
the downside everyone will tell you is that your full HD 1920x1080p clips will be converted to 1440x1080p. for my work i can't detect any loss in quality and the smaller file sizes and mac-compatibility are worth it.
if that doesn't cut the mustard,
use Avid's free DNxHD codec:
http://cdn.pinnaclesys.com/SupportFiles/attach/PC_AvidCodecsLE_2.1.zip
this only includes the codecs, so you'll need an application like TMPGEnc to actually process the transcodes.
i realize i mistakenly said that DNxHD was an avi codec, but it's wrapped in quicktime.
this is very high quality, with lots of different settings, and same file sizes as Canopus or Cineform codecs.