That would be great! Thanks. If it made things easier, I could always demux the *.264 file from the m2ts prior to the conversion.
How does one define the codec, which is to be used for the lossless compression? If that is part of the script (which I expect it has to be) I'd like to use "UtVideo YUV420 BT.709 (ULH0) VCM".