Can Final Cut Pro edit MPEG?

Hello,
I work with HD MPEG files. However, to edit them in FCP is a painstaking task. I must always convert all the video files to .DV to speed up the editing/rendering process. In turn, I am forced to sacrifice video quality. Is there some way that I can set a project's format to .MPEG so that real time playback and rendering are just as quick as .DV files?
I appreciate any help.
-David
Message was edited by: surmise

What format would you suggest for importing and editing videos in FCP to maximize editing speed/ease.
Anything other than .dv.
There is a long list of compatible formats supported by FCP in the manuals and on the marketing pages at ahttp://www.apple.com/finalcutstudio/specs/
You will not find .dv on that list. Which brings up a question you need to answer for yourself (but not for us because the answer is not relevant to this dialog), who told you to use .dv? They were terribly misinformed.
bogiesan

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