Yep. No trans-coding options. Only duplicating media.
But that means you have all your used clips in a folder - which you can then batch encode through an external encoder like Compressor / Clip Wrap if you're wanting to go MTS to MOV. Re-Link and you're good to go.
Anyone found any internal PP solution yet?
Francois
FireTrigger Inc.
http://firetrigger.com