Video Conferencing the TY Stream or the Mpeg2 Mux

[Rick Wohleber]

I'd like to get some advice on Video Editing of either the TY stream
directly (ideal situation) or the muxed Mpeg2 SVCD 480x480 file that I
create with TMPGEnc.

I'm currently using Ulead Media Studio, which has 2 things I don't like:

1. It re-encodes the Mpeg2 stream, which results in a loss of quality 
2. Many times I get a loss of sync in the video/audio. 

Is there a better program out there that I should be using that will
work with either the TY Stream (again, preferable) or the Mpeg2 stream
natively?

Any advice is greatly appreciated.