A new Mac app has been released that re-wraps AVCHD clips to h.264 QuickTime format. Media Converter has a downloadable preset option that allows a lossless conversion with either uncompressed or no audio options. These additional presets are accessed via the preferences tab within the app. The app will also convert files to PAL or NTSC video, iPhone/iPod, MP3, DivX and many other formats.
Media Converter is available in a 64 bit version and it and any additional presets are free to download and use.