Encoded so far:
720p medium quality
ffmpeg -i IN.MTS -threads 6 -y -vcodec libx264 -acodec aac -strict -2 -ab 128k -ar 44100 -ac 2 -s 1280x720 -b:v 1M out.mp4
720p high quality
ffmpeg -i IN.MTS -threads 6 -y -vcodec libx264 -acodec aac -strict -2 -ab 128k -ar 44100 -ac 2 -s 1280x720 -b:v 2M out.mp4
720p medium quiality with png overlay
ffmpeg -i IN.MTS -vf "movie=logo_overlay.png [logo]; [logo] scale=-1:180 [logo] ; [in][logo] overlay=x=main_w-overlay_w-10:y=main_h-overlay_h-10 [out]" -threads 6 -y -vcodec libx264 -acodec aac -strict -2 -ab 128k -ar 44100 -ac 2 -s 1280x720 -b:v 1M out.mp4
1080p medium quality
ffmpeg -i IN.MTS -threads 6 -y -vcodec libx264 -acodec aac -strict -2 -ab 128k -ar 44100 -ac 2 -s 1920x1080 -b:v 1.5M out_1080.mp4
1080p high quality
ffmpeg -i IN.MTS -threads 6 -y -vcodec libx264 -acodec aac -strict -2 -ab 128k -ar 44100 -ac 2 -s 1920x1080 -b:v 3M out_1080.mp4
ffmpeg version:
ffmpeg -version ffmpeg version 2.3.1 Copyright (c) 2000-2014 the FFmpeg developers built on Aug 5 2014 19:11:58 with Apple LLVM version 5.1 (clang-503.0.40) (based on LLVM 3.4svn) configuration: --prefix=/opt/local --enable-swscale --enable-avfilter --enable-avresample --enable-libmp3lame --enable-libvorbis --enable-libopus --enable-libtheora --enable-libschroedinger --enable-libopenjpeg --enable-libmodplug --enable-libvpx --enable-libspeex --enable-libass --enable-libbluray --enable-gnutls --enable-fontconfig --enable-libfreetype --enable-libfribidi --disable-indev=jack --disable-outdev=xv --mandir=/opt/local/share/man --enable-shared --enable-pthreads --cc=/usr/bin/clang --enable-vda --arch=x86_64 --enable-yasm --enable-gpl --enable-postproc --enable-libx264 --enable-libxvid libavutil 52. 92.100 / 52. 92.100 libavcodec 55. 69.100 / 55. 69.100 libavformat 55. 48.100 / 55. 48.100 libavdevice 55. 13.102 / 55. 13.102 libavfilter 4. 11.100 / 4. 11.100 libavresample 1. 3. 0 / 1. 3. 0 libswscale 2. 6.100 / 2. 6.100 libswresample 0. 19.100 / 0. 19.100 libpostproc 52. 3.100 / 52. 3.100