I'm trying to understand what iMovie is doing. Basically, I have a panasonic gh2 with hack to increase the bitrate. Regardless, it stores the videos in avchd format. When I import it into iMovie, I see the video in the Movie Library/Original directory as h.264 encoded, which surprises me because some people said it should stay as avchd or prores. Can anyone confirm? Also, I'm wondering what format I'm actually editing the file in when I'm using iMovie. Where is that file located? Does anyone know? My concern is I'm losing image quality.