Alas, my hopes have been dashed. I'd hoped I'd be able to venture into the brave new world of AVCHD with Premiere CS4, but my dreams are shattered. It's a pig to edit, glitches at encode and generally makes me a very angry little man.
Given a choice between getting a new laptop or converting before editing, I'm going to have to go with the latter. So frustrating. Anyway, here was the result of my New Years Eve AVCHD editing exploits:
Now premiere can't be blamed for my lack of artistic flare, but note the jumps / jitters before two of the transitions. It was also just a complete nightmare to scrub the timeline and encode the video. Never again. Will probably end up doing all that again after first converting to another format. Grr.