I've been trying to get as lossless a transcode as I can from QT (rewrapped from Sony EX1 via XDCAM transfer) to H264 MP4. The best I've managed is through MPEG Streamclip but this is a guessing game (time consuming with large files) as to what percentage to put it through at. Every clip seems to be different. I've spent way too much time trying to crack this and coming up empty handed.
I have a lot of files waiting to be transcoded.