What do your computer resources look like? Does your computer have enough resources for AVCHD (also designated as MPEG-4 AVC/H.264) editing?
Will your Premiere Elements 10 be running on Windows 7, 8,or 8.1 64 bit? Pending further information, I am not seeing a need to go from version 10 to 12.
Pending further information...my suggestion would be
AVCHD 1920 x 1080p30
using the Premiere Elements 10 project preset
DLSR 1080p30 or DLSR 1080p30 @ 29.97, depending on the properties readout of your 1080p30 (29.97 or 30)
Then, Share/Disc/DVD disc with preset of NTSC_Widescreen DVD Dolby.
The above is suggested to get the best possible result for your specific export selection DVD VIDEO format on DVD disc.
Please enter into this with the realization that you are starting with 1920 x 1080 and will end up with 720 x 480 with a 16:9 flag to stretch that video for display after encoding (and that stretch is not to 1920 x 1080). Whatever the video resolution, it will be encoded to the standard of the export choice.
What are your restrictions that are directing you to DVD-VIDEO on DVD disc which I believe to be your intent since you wrote
the video will output to a standard DVD for local television use
Or did you have in mind by that, exporting your Timeline to a file with 720 x 480 16:9 properties and putting that on a data disc as such or something else?
Lots of threads here on high definition taken to DVD-VIDEO (aka DVD) and expectations versus the actual results as well as the quality of Premiere Elements DVD-VIDEO on DVD disc in general..
Lots to discuss once we exchange additional information on your topic.
Windows 7 Professional
-Intel Core i7-3770
8GB DDR3 RAM
SanDisk 128 SSD
WD Blue 1TB 7200RPM HDD
GTX 650 1GB
Yes, DVD-VIDEO on DVD disc is what I had in mind. The restrictions...well I am assuming that the local television station
will only accept media that is DVD-VIDEO on DVD disc. Were you going to suggest for me to export the video as AVCHD on a standard DVD disc?
Thanks for your quick response.