Adobe Premiere CS5.5
I do own CS6 as well but for some reason cannot get audio to play form the .mts files so my workaround to A) avoid re-wrapping / transcoding and B) play around with something other than FCP7.
So as 5.5 on my system does play the audio from these .mts files back, I am using it for this project. What I have come to love about Premiere that is more innovative than any other NLE is the Media Browser. I know nothing about Premiere's history so I am not sure when this was implemented but being able to browse my media on the drives directly from the UI is a game changer for me.
It can natively read tons of tapeless formats in CS5.5 and even more in CS6. Next project I start in CS6, I'll show you how Media Browser has come leaps and bounds taking, what looks like, some cues from FCPx (don't worry -- they're the good ones) and stepped up the coding so much so that I am just salivating to work in the system and bummed that I can't for this particular show.
So this alone, to me, garnered it's own post. The first time I used premiere, I didn't even use the bins -- I cut everything straight from the Media Browser. My bins were atrocious at the end of the project and I shudder to even think of opening it back up but it was a quick turn-around show and it was cutting raw T2I footage. It worked like a dream.
I'll update you with more as I come across things I love and hate.