ClipWrap has been out for a while, taking M2T files and turning them into Final Cut Pro compatible Quicktime files. Now, ClipWrap 1.1 adds transcoding to the feature set – bring in any M2T file, spit out ProRes, Apple Intermediate, DNxHD and a variety of other formats.
I’ve been playing with the beta of this for a while, and it’s pretty slick. Many people are shooting HDV but prefer to edit in an intraframe codec. This allows you to easily batch convert a whole day’s shooting into something more edit friendly like DVCProHD.