My friend bought Sony SR8 HD camera and discovered, that to do HD he also needs Final Cut Pro and to convert the files, special converter that only works with Mac Pro!
Enter Voltaic. With this cheap (and I mean the price) and easy to use (drag-and-drop) software, everybody can do HD video. Just copy your MTS or M2T files from camera to computer, drag-and-drop them (or just double-click!) to Voltaic application and voila!) My friend is quite happy that he doesn't have to rob the bank to get his lousy HD cam talking to Mac.
Extra points and compliments to Voltaic user support: That Sony SR8 camera did not record as advertized and with Voltaic we figured out the problem in no time. So if you first don't succeed - ask for help. Probably it's not the software thats faulty but your camera.
I see the Voltaic as a great piece of software and I'm planning to buy myself HD-capable camera, too. The picture quality is just too great to miss - I do motorcycle racing and I already see all those races captured in high-res :). Quite a jump considering the last on I filmed was done with Nokia N80 :) Yes, poor mobile phone was duct-taped to helmet. Don't laugh :)

Oh, disclaimer: I'm in no way affiliated with Voltaic. I was just a poor dude with HD camera who was left out cold by sony and by apple and now I'm extatic that tiny investment saved my day, week, a month, or even a year. :)