After I posted that last reference to Boing Boing’s iPhone photo and video examples I read the very last line:
Video is saved and exported as h.264 QuickTime, and you can email, MMS, or publish to YouTube right from the iPhone. Editing on the device is possible with iMovie for iPhone ($5 in the Apple App store).
So, iMovie on iPhone can edit H.264 QuickTime Files but Final Cut Pro has to transcode to ProRes? What’s up with that?
Now there’s a lot of good reasons to transcode to ProRes (or DNxHD even with AMA for H.264 QT files) but surely if the underpowered processor in an iPhone (relative to any desktop or laptop) can do it, why not a fully blown 8 core Mac?