O.k. let's see how to tell and explain this. I'm not native english so..
I'm used to work in CS5. Now i've downloaded a trial version of CS6 just to see if it's my thing.
Now, there is something i do not understand. The cutting tool. In CS 5 i could give my own dimensions and resolution. Now in CS6 i can make a pre-choice. Takes a few extra "clicks". But i do not like the new cutting tool.
Is there a way to adjust the cutting tool option as it was in CS5?
Are you confusing the crop tool of Photoshop with the edit tool in Premiere Pro?
As Jon points out, the Crop Tool in PS offers what you describe, where the Razor Tool in PrPro is for Cutting a Clip.
You CAN Crop in PrPro, but it is a slightly different operation. There is a Crop Effect, that can be applied to a Clip, to reduce the number of pixels seen.
One of the big differences between an Image and Video, is that Video has a set (in the Sequence) Frame Size, where an Image does not have such a constraint. Also, Resolution (such as DPI, or PPI) has no real meaning in Video, unlike an Image meant for viewing on a computer, or printing.