A lot of great announcements at NAB including Avid's latest Media Composer version 5... This is a HUGE upgrade. If you haven't heard here's a list of the new features...

-Directly access and edit RED files through AMA, without transcoding (images are scaled to HD frame size)
-Work natively with QuickTime video formats, including Apple ProRes and H.264
-Edit video and audio by dragging and dropping elements in the timeline
-Keep high-end finishing projects in-house and gain great color precision with HD-RGB support (including dual-link I/O -support with Nitris DX systems)
-Monitor video externally with support for the Matrox MXO2 Mini
-Mix and match frame sizes and aspect ratios — in addition to formats, frame rates, and resolutions — in the same timeline
-Take a break during long renders and have your system email you when the job’s done
-Import AVCHD files directly from cameras and other devices
-Capture to and edit XDCAM HD and DVC PRO HD formats from baseband without additional hardware
-Access low-res XDCAM proxies for offline work, with full-quality audio
-Import text-based ancillary data and embed it in the video signal with the new “Data Track” and SMPTE 436M support using Nitris DX- and Mojo DX-based systems
-View stereo audio tracks as single channels in the timeline for easier handling
-Create high-quality sounds and mixes with support for RTAS audio processing plug-ins
-Natively access and edit 4:2:2 MPEG-2 media from the new Canon cameras using AMA
-Work Directly with RED Using the Newly Improved AMA

With Media Composer 5, AMA (Avid Media Access) has been completely reengineered, so you can work natively with more file-based media formats now and in the future. With the new and improved AMA, you can speed up RED workflows by directly accessing RED files (.R3D) in Media Composer without having to prepare them through MetaFuze (all footage is scaled to HD frame size). Plus, you have access to its full metadata and color management data too.

Edit QuickTime Formats Natively
Get native access to all popular QuickTime formats, with full access to clip metadata. Thanks to AMA, you can natively access and edit any movie that can be played in Apple’s QuickTime Player (including Apple ProRes and .mov files captured by Canon 5D and 7D cameras) right in Media Composer — no transcoding, rewrapping, or logging and transferring required.

Drag and Drop Video and Audio to Edit
Get comfortable — with Media Composer 5, you can truly edit the way you like. In addition to the standard way of editing, you can also now directly manipulate elements in the timeline to edit video and audio. Drag and drop clips anywhere you want on the timeline to rearrange sequences. And grab a clip’s in or out point and drag to trim a scene, dialog, or music.

Get Full-Quality HD-RGB Processing
Keep those finishing jobs in house, and deliver the highest quality color and effects work, with support for full-quality 4:4:4 HD-RGB color space processing in Media Composer. With the higher resolution detail, you can perform color correction, keying, and effects work with greater precision and ease. And if you have a Nitris DX-based system, you can digitize, process, monitor, and output (output in Symphony systems only) projects in HD-RGB, using the two HD SDI connections to handle the high-bandwidth resolutions.

Monitor Video Externally through Matrox MXO2 Mini
If you don’t have a Nitris DX- or Mojo DX-based system, Media Composer 5 opens the door to third-party workflows, enabling you to monitor video externally using the Matrox MXO2 Mini interface, which is available for Mac and Windows systems. When paired with Media Composer software, MXO2 Mini becomes a dedicated, high-quality monitor-only solution for file-based or workgroup production, so you can view your video work in real time without any major expense.

And here's a short article on that new low cost 3rd Party HD monitoring solution from Matrox...
http://www.studiodaily.com/main/news/prc/12140.html

Very cool stuff.

-Blake

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