I have a SD TV spot and one of the stations wants an mpeg 2 program stream. What is the best way to create this? I'm using FCP 4.5 and also have Compressor 1.2. Any ideas would be great, and if you think the answer is "Your system is too old!" then feel free to let me know as well :p
If using my version of FCP isn't an option, what is the best way to export it so I can do so in Premiere Pro CS 5.5, on a newer and faster PC?
yes, your software is too old.
Use the search function (upper right), the process is very easy on FCS3. Not sure if PP can export those files, but I guess the Adobe Media Encoder can do it.