Unfortunately, you have posted to the Tips & Tricks sub-forum, which is basically a repository for articles on how to do things in Premiere.
I will Move your post out to the main PrE Forum, where you will get answers quickly, and many more "eyes" will see your post.
[Moved to Premiere Elements Forum]
I would very much recommend against converting video -- particularly to MP4 -- before bringing it into Premiere Elements for editing. There are too many variables.
What is the original format, resolution and codec of the original video?
The video was captured using Windows Media Center straight from television as a 'wtv' file.
This issue has come up before (http://forums.adobe.com/message/4237579) and then you said
"Premiere Elements can not work with that format of video. You'll need to convert it to a more standard camcorder format or edit it in a program (possibly Windows MovieMaker) that can work with that format."
However that kind of begs the question.
I am trying to identify a good hopefully free tool I can use to get my wtv files into a workable format for PrE to digest.