Updates: Yes(downloaded the same day I posted the question)
Operating System: Windows 7 Home Premium
RAM: 219 GB out of 279 GB
The sound plays, but the video doesnt preview. I've tried this with both avi and wmv files, and I've also rendered the video. Below is what happens, don't mind the nonsense video I used to test it...
Very likely a problem with an out of date graphics adapter driver
What is your brand/model graphics adapter, and what is your driver version number?
For example... I have an nVidia GTX285 with driver 296.10
What is the model of your nVidia graphics card?
Is that the very latest on the nVidia Web site, for your card and your OS?
Do not trust Windows to tell you if you have the very latest driver. Verify that from the nVidia Web site.
So glad that you now have your display functioning properly.
While I have to admit that I am not religious about just updating drivers, when they are available, I always keep those in the back of my mind. Whenever I make any changes, or even update my OS, I test my display, knowing that I might have to update my video driver. Even simple OS updates, and hot-fixes, can render a display driver obsolete, and as Premiere relies and interfaces very heavily with the display drivers (more than most other programs), I use it to test, to see if I do need to upgrade my driver.
As has been stated above, but I feel that it is always worthwhile to mention again for anyone coming to this thread later, one should go to the video card's/chip's mfgr's. Web site, and compare driver versions, getting the very latest installed. Too often, people will use the OS, or some utility, to determine if the driver is the latest, and those are almost always 6 - 12 mos. out of date - a lifetime for a video driver.
Good luck, and if your problem has been solved, you might want to see this article: http://forums.adobe.com/thread/1058744?tstart=0