My current workflow that I am using is as follows:

I copy over clips with canon software (not through final cut)
I then run clips through MPEG Streamclip and covert to ProRes LT.

Am I doing the right thing or am I losing quality this way? Have always preferred Streamclip beacuase it is so simple. Would like to know anyone's opinion on this.

I used to use MPEG Streamclip but now have become a big fan of Log & Transfer within Final Cut. It allows me to create a backup disk image of the card & then I can review the footage clip by clip. I can quickly scrub through each clip marking in & out points so that I only convert what I really need rather than using MPEG Streamclip to mindlessly convert every second of footage that I shot. I need to review the footage anyway & this is the easiest & fastest way to do it.

do you think there is any quality difference between the FCP method and Streamclip Nigel?