Strange thing - I was fiddling with some audio settings. Suddenly all my sequences are playing back at less than real time. A 30 second spot takes about 32.3 seconds to play back. The music and voice overs are slower.
I have already tried restarting the mac. It affects all my projects - not just the one I was workign on at the time.
Has anyone run into this?
More info would be helpful in attempting to help. Can you please refer to this link: http://forums.adobe.com/message/4200840#4200840
Off the bat though have you made sure GPU acceleration is enabled?
OK, I think I solved it. I had turned on a firewire camera (DVX-100) and attached it to the computer. I think the computer was somehow syncing to the camera. Once I turned off the camera and restarted Premiere it started working fine.