I had someone point me to a great free utility today. It’s a small Windows-only application that can transcode AVCHD clips recorded by cameras such as Panasonic’s AG-HSC1U into P2 DVCPRO HD. The files are written to a Panasonic P2-like folder structure, which you can then use within Avid Xpress Pro or Media Composer.
The transcoder was created by Main Concept and is distributed free of charge by Panasonic. You can download a copy here.
Once the transcode is complete, you can use Avid’s normal P2 workflow to access the files. Avid Media Evangelist Bob Russo has a great demo of that P2 workflow here.