So since AVCHD is just h.264 video with AAC Audio, if would seem like you could just transcode it losslessly to an mp4 wrapper that iMovie could natively recognize. Am I wrong about that, or is there a tool to do such a thing?
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With QuickTime Player Pro and this QT component, https://eww.pass.panasonic.co.jp/pro-av/support/desk/e/avc_download.htm#avccamip
houdini -
I struggled to find the answer to this. In the end I found this:
http://rowan.smith.gen.nz/post/15444583691/lossless-transcoding-of-avchd-to-mpeg4
Given your source audio is just AAC and not AC3 it should work seamlessly using a copy of each.
Goodluck.
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