Convert Mp3 audio file to audio/video black with timecode

Hi All:
As Summer ends, I find myself reaching out to all my FCP peers once again... I have an Mp3 audio file (one channel of audio and one channel of timecode) which I need to convert to an A/V file such as MPEG-4, H-264 or MOV so the viewer can listen to the audio while viewing the timecode .
Is there a program that will allow me to do this or Is there a way for FCP 6.0.4 to import an Mp3 with one channel of audio and one channel of timecode and be able to utilize the original TC embedded within. I imported the track into FCP and put slugs down for video and tried timecode reader but it just reads the slugs TC starting at 00:00:00:00 instead of the 02:23:33:29 or whatever.
I found a work-around thanks to a buddy of mine... I imported the clip into FCP I played the clip from the timeline into my camera using TC in and audio in and got the timecode on tape but Capture Now finds breaks every 20 to 40 seconds and is taking forever stopping and making new clips etc...
Any help would be appreciated as I have a few hours of mp3's still to do.
Thanks,
Jim