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You can't use anything MPEG with the trial.
But even after purchase, it seems users have been having some issues with that media. Check around the forums before purchase.
Adobe offers a 30-day money back guarantee on their programs.
I'd suggest following Jim's lead and doing your due diligence in the various forums, and if it still sounds good, using that 30-day period to try out the real version on your system with your footage.
Good luck, and please report your findings,
As far as I am concerned, editing XDCAM EX files with CS4 - I have yet to edit XDCAM (HD) files - is as easy as editing DV(CAM) material on my i7 Extreme machine with Vista Ultimate and 12 Gig of RAM.
I am also pleased to report that the audio bug that beset CS3 when editing XDCAM EX files namely, audio cutting out randomly, is a thing of the past.
The whole CS4 Suite (including Premiere) has been running very smoothly on my (beefy) machine.