I have a Canon 60D, which obviously uses the h264 codec for capturing. I am using Adobe Premiere and After Effects -- and I've already seen how both can handle h264 footage natively (Thank you Jason Levine). However, I've also seen footage that has been transcoded to an intermediate codec for editing (as opposed to a capturing codec). This footage, to me, looks like it runs smoother in Premiere and After Effects than allowing the footage to run natively. Unfortunately, these videos always fail to mention the name of the particular intermediate codec being used. So finally we arrive to my question:
What is a good intermediate codec to transcode h264 footage to, before running it on Premiere or After Effects?
I would appreciate a thoughtful answer to this question from someone who uses the Canon 60D (5D and 7D user input is also welcome) in a PC based Adobe workflow that incorporates Premiere and AE.