If you don't mind the excruciatingly long time it will take WME to re-encode the thing, you won't take a quality hit at all if you re-encode with a very high bitrate....run that sucker up to around 14Mbps COMBINED audio and video bitrate, and I bet you don't notice a thing.
However, IIRC, WME will only recognize an H264 video file as a "legitimate" video source if framed-served with AVISynth. This forum is not the appropriate place to open THAT can of instructional worms.

Split it and watch it. Screw the contininuity. Gives you a reason to go get another beer.