What is the best product for converting MTS files (NOT on camera or in root directory) for editing in Final Cut

Question

Hello all,
I have read the forums and know that I cannot use the Log and Transfer function on Final Cut Express 4.0 for my AVCHD files (from my Panasonic HC-V700) AFTER I have transfered the files out of the original root directory.  Unfortunately, I did not know this until recently and I have a bunch of old footage in .mts form that I copied onto my harddrive WITHOUT the root directory.  I now must get it into Final Cut Express 4.0.1. and I would like to use a Log and Transfer style program so that I can select what I need and erase the rest.  I know about the program VoltaicHD which can be used for this purpose.  I have not yet purchased it, but I will if this is my best option.  The downsides to it are that it takes a lot of time to process the files (i hear from this forum) and that it creates extremely large files (hearsay from this forum, though I would like to know just how big those files are and how they compare to the size of files final cut creates). When I tried the trial version, I also noticed that unlike the log and transfer function in Final Cut Express 4.0.1, you cannot capture multiple subclips from a single clip.  Well you can, but you have to load the clip into the viewing window again, which is not ideal.
I would love some more advice on this.  I imagine other people have made this same mistake and have had to figure their way out of it.
I was also wondering is it possible to use Final Cut Express's Log and Transfer program directly from files if they are in a different file format.  So far my experiments with this have failed.  But if this is possible, I suppose I can also just convert all the backlogged files wholesale into a format that Final Cut Express supports more easily for Log and Transfer (What file format would this be? Sorry I am new to this).  My new harddrive has a lot of free space, so I could probably handle the huge amount of storage that this would require for the raw footage and then I could erase it after I log and transfer just what I need.   In which case, do folks have recommendations for a file convertor.  I am dealing with over hundreds of files and I don't think the free online convertors would work. This product has been suggested to me, but I know very little about it.
Thanks!
Mira

Answer 1

I am also finding, when I use Voltaic trial version, that the quicktime movies it creates are of inferior quality than those created through log and transfer into final cut express and imovie, particularly during rapid movement. There's a lot of visible lines running horizontally around areas of rapid movement (not sure what the lingo is for this).
Anyway, now I am getting accustomed to the idea that my best bet is probably just a high quality converter to get my mts files into something more useable by final cut.  At this point, I am willing to sit through the render time that it will take on final cut express while I edit.  I am just trying to get my footage into workable format without losing quality.
Thank you!
Mira