Well, now I feel like an idiot. I did exactly what you suggested, and I'm now converting (via HandBrake) the AVCHD to a 10GB (at 11,424 kbps bitrate, no audio) h.264 mp4 file, size 720x480 with no cropping - I figure that's probably the best way to get it to the resolution I need without losing any quality (since HandBrake can't output lossless), though I may lose *some* quality simply due to the downconversion to SD. At any rate, I'll see how it looks when it gets done encoding. I have to go to work in a half hour (3-hour shift ... I'd better make damn good tips for such a short time on the clock), and it says it'll take about 3 hours, so I should know by the time I get back from work.
--edit--
Damn, first I get sent home from work an hour early, then I get home and HandBrake says it's got another hour and 35 minutes to go. Lame.