I record gaming videos with my HD PVR and the output of the file is M2TS. Everytime I drag it in Premiere, it will show small black borders at the top and to the right of the video. I knew how to do this in Vegas but am clueless on how to do it in Premiere.
The M2TS file is 1280x720
See if this helps...
Please NOTE that the PPro CS6 screen may look a bit different
For CS5 and later, the easy way to insure that your video and your project match
See 2nd post for picture of NEW ITEM process http://forums.adobe.com/thread/872666