A new $49.00 H.264 conversion utility from Red Giant converts DSLR video to edit-friendly formats, adds timecode, and generates proxies. Magic Bullet Grinder works with video-capable Canon DSLR cameras and provides a single, time-saving pass transcode into ProRes, Standard, ProRes Proxy, and PhotoJPEG formats, complete with a timecode track.  Only Canon DSLRs are  currently supported, but other support other cams is forthcoming.