ffmpeg -i 00140.MTS
ffmpeg version 0.10.3 Copyright (c) 2000-2012 the FFmpeg developers
  built on May  9 2012 17:51:07 with gcc 4.7.0 20120505 (prerelease)
  configuration: --prefix=/usr --enable-libmp3lame --enable-libvorbis --enable-libxvid --enable-libx264 --enable-libvpx --enable-libtheora --enable-libgsm --enable-libspeex --enable-postproc --enable-shared --enable-x11grab --enable-libopencore_amrnb --enable-libopencore_amrwb --enable-libschroedinger --enable-libopenjpeg --enable-librtmp --enable-libpulse --enable-gpl --enable-version3 --enable-runtime-cpudetect --disable-debug --disable-static
  libavutil      51. 35.100 / 51. 35.100
  libavcodec     53. 61.100 / 53. 61.100
  libavformat    53. 32.100 / 53. 32.100
  libavdevice    53.  4.100 / 53.  4.100
  libavfilter     2. 61.100 /  2. 61.100
  libswscale      2.  1.100 /  2.  1.100
  libswresample   0.  6.100 /  0.  6.100
  libpostproc    52.  0.100 / 52.  0.100
[h264 @ 0x1455280] Increasing reorder buffer to 1
Input #0, mpegts, from '00140.MTS':
  Duration: 00:00:55.23, start: 0.801622, bitrate: 16369 kb/s
  Program 1
    Stream #0:0[0x1011]: Video: h264 (High) (HDMV / 0x564D4448), yuv420p, 1920x1080 [SAR 1:1 DAR 16:9], 50 fps, 50 tbr, 90k tbn, 50 tbc
    Stream #0:1[0x1100]: Audio: ac3 (AC-3 / 0x332D4341), 48000 Hz, 5.1(side), s16, 384 kb/s
    Stream #0:2[0x1200]: Subtitle: hdmv_pgs_subtitle ([144][0][0][0] / 0x0090)

Command:
ffmpeg -threads 0 -i 00140.MTS -deinterlace -s hd720 -vcodec libx264 -vpre hq -crf 20.0 -acodec libmp3lame -ab 96k -ar 48000 -ac 2 -f mp4 -r 25 out_video.mp4