VideoStudio :: X3 - Editing 1080 / 50p Video

I upgraded to X3 and it will happily load 1920 x 1080 @ 50p x264/AVC files from a Pan HDC-HS700 just fine (and reports the details correctly but as PAL HDMV). As I play these back in native form on my HTPC (and they look stunning) I just want to EDIT them, then smart render them out in the same format.

This is where I seem to come unstuck, as if I choose "Create Video FIle --> Same as First Video Clip", X3 wants to pump it out as PAL, MPEG 720 x 576 @25fps! I can also not find or create a template that matches the specs of the format.

So
1) Can X3 handle 1920 x 1080 @ 50p x264/AVC out of the box
2) Is there a "tweak" like old versions where you can expose additional CODEC settings to handle 1920 x 1080 @ 50p x264/AVC
3) ....if not what alternative software does work with 1920 x 1080 @ 50p x264/AVC (as Pana's bundled HD Writer is very limited)