The sole appeal of AVCHD is space consumed. It uses H.264 compression, which as many Mac users know, confers excellent quality at relatively low bitrates. However, when one is attempting to edit, you want less compression, not more.
So the pros of AVCHD are:
-Uses little space
-Cheap format (Cameras and media to store on are very inexpensive)
-Stored on HDDs or flash media such as SD cards
-Will get you 1080p at a fraction the cost of most other machines.
-Can be transferred for editing - no capture process required.
-Compatible with Blu-ray format
Cons include, but are not limited to:
-Lower bitrates (usually) than HDV, which you use, and higher degree of compression.
-Does not tend to turn up on 3 chip cameras, so resolution advantage is negated by crappy sensors (read: cheap!)
-Cannot be edited natively in iMovie or Final Cut, thereby requiring a lengthy, space-consuming transcode to a more friendly format, thus negating the advantage of not having to capture. Alternatively, requires a lot of CPU to work with smoothly
-Many manufacturers use their own unique flavors of AVCHD, so it's not all exactly the same. This happens with HDV too, though.
-Like HDV, throws out most of the color information.
AVC is excellent for point-and-shoot handicam style video work, but poorly suited to someone who needs a lot of manual control and is trying to get excellent video quality