> Premiere CS3 and CS3 both can handle m2t files.

M2T = mpeg2 (easy)
M2TS = AVCHD mpeg4 (not natively supported by Premiere CS3, needs a codec).
http://en.wikipedia.org/wiki/AVCHD

CS4 supports it: 
http://blogs.adobe.com/genesisproject/2007/11/avc_hd_on_premiere_pro.html

For CS3 (& possibly earlier vs) you can try:
Fffdshow (free): http://en.wikipedia.org/wiki/FFDshow
CoreAVC ($8): http://www.coreavc.com/
--
gl 


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