Yes, not to useful. I've seen the same.

There is a workaround but not real straight forward but it can be done. It's the same basic steps I outlined in detail for BD in the pdf in this post. http://forum.cyberlink.com/forum/posts/list/20867.page#116989

Basically in your case to fit 37min AVCHD on a 4.7GB file you would need ~14Mbps video bitrate vs the PD default of ~16Mbps when creating a AVCHD disc. So basic steps are:
1) Create a custom profile in "Produce" H.264, 1920/x1080, 29.97fps, and set video bitrate to 14000 in the dialog box
2) Produce your video
3) Create a new project with just the video produced in step 2, add chapters if you wish
4) Go to the "Create Disc" module and use H.264, 1920x1080/60i and set Disc type to AVCHD and DVD 8.5GB. PD will still give a capacity issue with 4.7GB setting
5) In the "Burn in 2D" only select create a folder
6) Burn project to create folder structure
7) Verify created folder size is 4.7GB or less and if so burn with your favorite utility. If the folder would happen to be too large, you can reduce the 14Mbps a little to get the file size down to fit.

My sample test with 37:09 on the timeline and above steps resulted in a 4.3GB folder with 29.97fps (NTSC for me) so it would fit fine on 4.7GB disc. PD estimate with default AVCHD bitrate was 5315MB and of course wouldn't fit.

Jeff

Thanks Jeff, appreciate your input and advice. It does seem to be a serious issue that Cyberlink needs to address though - your work-around works perfectly, but the problem does need to be corrected.
I'd really like to know why Cyberlink decided to drop the frame rate rather than reduce the frame quality to achieve the bitmap reduction. I cannot see any situation where a 23fps frame rate would work.
Hope this is looked at for v13.... i7 4790, 16Gb, Gigabyte Z97, GTX460, 500Gb Seagate SSD, WD 2Tb Black, Win 7 Pro x64