Forgive me if it's a silly question, but I'm genuinely curious. After Effects gives the user the option to right-click any file in the Projects panel and choose Create Proxy, in any number of formats. It then automatically replaces that file with its proxy, which can be undone by checking the Proxy box next to its name. This is incredibly useful, yet nothing like it seems to be included in Premiere. Is it just assumed that rendering preview files and using the 1/2, 1/4, etc view modes makes proxies like this unneeded? It's not even really a problem, it's just that I've started taking an Avid course this week and upon seeing its automatic conversion of all files to its proxy codec, I wondered why Premiere doesn't feature something along the same lines.