If you're running Mac OS X 10.8 or later, EditReady is the way to go, as it has all the capabilities of ClipWrap plus a bunch of other features. If you're on an older Mac, you can stick with ClipWrap to use those files.
Diff between EditReady & ClipWrap?
I have BDAV folders with a .m2ts file. VLC plays it fine. I sometimes have Mpeg HD videos that EditReady can convert. Which product to purchase?
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