I have uploaded a video to youtube and in the youtube player I get a slight letterbox. Looking at other SD videos on youtube I don't notice this.
Video was shot on a Samsung F40 BN SD, My settings in PE11 was NTSC Flash memory standard 48khz. I uploaded in PE11 using youtube
This camcorder shoots standard definition (720x480) MP4s. But the specs aren't clear online: Is this 4:3 or 16:9 video?
When you look under the Edit menu in your Premiere Elements project, what Project Settings are listed?
The settings are set to 720x480 NTSCDV. 29.97 dropframe UFF DV/D1 0.09pixel. I'am using a inspiron 50/50
with 4GB memory, 500GB harddrive 5400RPM, 2.30 processor. The video is 4:3.
Try creating a new project. On the New Project option screen, click Settings and select the settings for a Flip Mino (standard definition). Then, back at the New Projec screen, select the option to Force Settings on Project.
Those project settings should better fit your video.
Then, to output a video for YouTube, use Publish & Share/Computer/AVCHD and select the Vimeo SD preset.