The only way for me to edit it was to get my hands on Sony Vegas Pro... In secret internet ninja ways...
I've been trying to find a way to convert the video files to SD once they're on the computer so that I can edit it in Premiere and After Effects, but no such luck so far.
I'm going to try to come up with some kind of cushioning system for my camera in it's housing so that if it drops into the water there won't be any kind of real solid impact when it does. I've been pretty satisfied with it. I just pop all the data over onto my external hard drive and it will last for a while.
Um, wait, when you say it won't let you put it onto the computer because it's in the wrong format, does that mean you can't even watch the videos on your computer? You have to install the software that came with the camera to get it on there properly and to watch the footage... There's a Canon specific program used to download the footage off of your camera and into a specified folder on your PC. After that, when you click on it, it should be opening up for viewing in InterVideo WinDVD SE.
It's a great camera, especially since I can edit it in HD format, which is pretty much ballin for a camera as small as it.
I'm getting there on learning all of the features of it, so if you've got anymore questions, feel free to ask. I just need to figure out the darned focusing problem!