I do not do BluRay (only a DVD burner) so have no DIRECT experience... hence the links I provided... but my "genaral" understanding is...
Edit AVCHD... share/export "up to" 20 minutes of HiDef output to a folder... use a different product to write that folder to a DVD... play the DVD in a BluRay player for true HiDef to your TV (*)
The hybrid DVD you create will not play in a DVD player... the BluRay data rate is too high for a DVD player to process
(*) latest PreEl **MAY** have an option to burn AVCHD direct to a DVD as long as the size limit is not exceeded... check the user guide
The official term is "AVCHD Disk". It is somehow part of the AVCHD/Blu-Ray standards that came from Panasonic and Sony. The idea is to make HD, or Blu-Ray, quality on cheap, standard DVDs.
It works very well, as long as the video is less than about 20 minutes. The file specification seem to be the same as Blu-Ray specifications. You get a 1920x1080i file.
Since it is a Blu-Ray related format, it only plays on Blu-Ray players. My experience is that picture quality is indistinguishable from actual Blu-Ray disks created from the same project.
As long as your video is shorter than twenty minutes and you are going to play it on a Blu-Ray player, it makes sense to create "AVCHD Disks" rather than "Blu-Ray Disks". It is cheaper and the results are the same.
The sequence in PrE is Publish&Share > Disk > AVCHD and pick a preset for 1920 x 1080 for NTSC or PAL.
Bill