Importing Panasonic MTS into FCP

So Panasonic has released AVCCAM Importer. It lets you directly import Panasonic .MTS files into Final Cut Pro 7.
I learned about this nifty importer from the boys down at Abel Cine. I don't think Panasonic really created this app for the GH-1, but I've tested it and Final Cut Pro can certainly import .mts files directly with it.
What I don't know is how happy it is or isn't with interlacing or other things. The first thing I've noticed is that the playback in FCP was very herky-jerky but that could be for virtually any reason at all.
If the AVCCAM Importer really works it'll save us between 400 and 600GB of data on each movie we make, that's for sure.

I am amused by the feet on this rabbit.

We'll be testing it out this week. On other people's projects. Ha!
UPDATE: I can't get the files to playback smoothly. When a project is loaded with .mts files the whole computer just slows down. This is on both of our Macs -- the quad-core and the 8-core. Back to Neoscene then. ;-)