I am playing with iMovie right now, but it doesn't see/support *.mts and *.m2ts files. I am a newbie when it comes to things like this, but was able to use iMovie to merge a few holiday clips, add titles, transitions, and music backgrounds. Neat for sure, and can turn random clips into an enjoyable moment for family and relatives, makes it much more presentable that's for sure!
Preparing a project and going to see how it plays on my iPad.