I'm at the cross-roads . I've been with M100 since 1995 and have been asked by producers how my system handles long-gop XDCAM footage from EX-1 and EX-3 tapeless cameras? Is the workflow efficient and fast? Are you happy with the resulting pictures after transcoding?
I was reviewing Premier CS4's specs re: XDCAM EX and it says it will handle it natively.
"Edit video natively in the latest tapeless formats, including AVCHD, P2, XDCAM EX, and XDCAM HD, without transcoding or rewrapping. Browse your drives and removable media from inside Adobe Premiere Pro to find, log, and import footage." (from Adobe's reasons to upgrade marketing piece)
M100 does not support XDcam natively, it will transcode it to whatever codec you set project to.
The way I deal with it is to open all the clips in FCP, select the parts I need and export by ref.
Then I import to M100 as Prores422 HQ, this is the only codec that works in Color (the color correction part of FCPstudio 2), and with M100 v13 it is really easy to jump into Color to grade your shots.
I know there are a lot of different workflows, but this seems to work really well for me. And the quality is fantastic.