So perhaps we could prevent all the new threads that keep coming up and get some sort of master list going here on how you edit "x" files with "y" software, and on what OS
Hopefully this will be beneficial for those that are editing with a borrowed camera , or when struggling with a new camera, software or OS
So I will start with a relatively common setup, and a very common workflow
Camera: 7D .MOV (h.264)
OS: Max OS X
Software: Final Cut Pro.
Convert files via MPEG Stream Clip into ProRes 422 or Apple Intermediate Codec if storage is an issue.
(MPEG Stream Clip Link)