We recently shot some video using the Panasonic P2. The setting used was 720p25. Please note that this is not 720pN25.
After doing the log and capture in Final Cut Pro version 6, the video was out of sync with the audio and the video was jerky.
The problem was solved when the preference "Remove Advanced Pulldown and Duplicate Frames " in "Log and Capture" was unchecked.
Found the following pdf from, http://rtf.utexas.edu/ , very helpful.