mts files
I had similar problem with my Sony camera because i only have G5 and NOT an INTEL chip apple which is prerequiste for Imovie 08 to see/import HD files.
You need to st your HDD and scren saver to NEVER sleep when importing, if you dont then imovie will really screw up.
You can store all your mts files, but it is best to create a folder and copy the WHOLE directory structure off your camera into that folder.
Also, you should be able to use the software that comes with your camera to decompress the mts files into mts2 files.
I have purchased a little media player box called WDTV. It connects to an external hard disk and has 2 usb ports and will list and play each clip from the external disk(will see mts and mts2 files), Also i joined alot of my small clips with a Russian "muxing" program (free off internet) .This allowed me to group clips into scenes that made sense.