Canon DSLR edit workflow with MPEG Streamclip
Here is a brief tutorial on my workflow for transcoding HD footage from the Canon cameras using MPEG Streamclip.

The Snow Leopard upgrade DVD released on August 28 may wipe the content of the /System/Library/QuickTime folder during the upgrade process, and delete your MPEG-2 Playback Component installed in that folder. To use MPEG-2 files with MPEG Streamclip you have to reinstall the MPEG-2 component or restore it from a backup copy.So, I went to the trusty apple forums telling users how to go back and reinstall it. I just thought I post a link to a .dmg file for free instead of purchasing the MPEG-2 plugin or looking for it. Just download and install and restart your machine and you should be playing MPEG-2 files just fine.
(Update: I export MPEG Streamclip at 50% and it works fine for most web videos, but to get the highest resolution and the largest file size I would use 100%.)