Initially it may sound as though I have chosen the wrong forum for the question that I have. My real question lies with this format. I have been using a Sony VX 2000 and Vegas as my editing solution for several years. I don't do any commercial endeavors with this. I say that so that you will understand that I'm not really under any time pressure, and and I can leave my computer running all night long if that's what it takes to manipulate the Codec I'm working with. I want to to purchase a new high-definition camcorder and I cannot decide which format I should go with(AVCHD or HDV). Some of the more professional users on this form have stated that they have sold their new camcorders using this format(AVCHD) because they found it so frustrating to work with.

I have purchased from a new iMac with pretty good specs
2.66GHz Intel Core 2 Duo
4 GB memory
NVIDIA GeForce 9400M graphics
Will be using FCE ( probably wait for version 5) or FCP

Is editing with this process really that much of a pain?
Is their an idiots guide or youtube explanation of the difference?

Just have a BIG hard drive when FCE/FCP ingest it into AIC or ProRes. Once its in, then you can edit away. With an iMac, and long clips, it will take awhile. I started with an iMac 2.16 and an Sony SR11 (AVCHD). Moved onto a mac pro. The quality of AVCHD is great. Just need a strong computer to work with it. At least a quad core or better is best though. Maybe borrow someones cam and try to edit to see if your comfortable with it. Now I don't use FCP so maybe those out here with it can chime in.