For Windows, install Windows and programs on drive C... my drives below
C - Windows and all software
D - Projects and other temporary files
E - Video input files
F - Video output files, exports after editing
Are you saying the premiere project file should go on it's own drive, separate from the media of that project itself?
the conventional recommendation has been to put the OS,programs,and Windows page file ONLY on the "C" drive, ( boot drive). Then, add more drives to "split the load" of all the reads and writes going on during editing. "D" drive could be for all media and project files, and "E" would be just for all previews and cache files......everything on "E" could be LOST without worry, as PPro would just re-create them, as needed.
This advise was given when single 7,200 rpm hard drives were the norm. However, with high quality ,very fast SSDs now in use...the advice may be a little different now.
A good starting point NOW would be to use 2 Samsung 850 Pro SATA III SSDs. The first would be configured as before....only OS,programs, and page file on it. The second would hold ALL ELSE without worry. That is because 7,200 rpm HDDs top out at around 130 MB/ sec. transfer speed vs. almost 600 MB/sec for the new SSDs. At almost the same level of performance,but, cheaper, is the Crucial M550 SSD series. So, you can use only TWO SSDs as your "working drives" and add larger,cheap HDDs as backups and to archive on.
I have not tried the following, but i believe it is possible. If you were to create a high speed RAID 0 with the two recommended SSDs.....it would provide a speed of over 1,000 MB/sec. I do NOT know how that would perform if you just put EVERYTHING on it. I have NOT seen anyone recommend this,but, I am curious to know how,or, IF it would even work !
I have run multi-SSD RAID 0 arrays on various workstations and servers since 2011. No, it is certainly not "mainstream" theory, yes, you loose the ability for SSD vendor utilities to do cool SSD stuff (utilities from Samsung, Intel, etc.), and lastly are SSD RAID 0 arrays fast, yes, they are fast indeed!
My workhouse x58 build from 2011 uses a 5x 64GB Crucial C300 array on a Areca controller for the OS/boot drive (1500 MB/s reads, 500 MB/s writes). And my new 8-core 2014 build uses a 8x 128GB Crucial M550 array partitioned with 250GB for OS/programs and the rest for scratch, swap, and a bit of work area (also on an Areca controller with 28 channels, 2800 MB/s reads and 2300 MB/s writes). Is this for everybody, I would not say "no", I would say "heck no"! Do realize that when you have a 28-port SAS/SATA controller (I have lots of hard drives too), that having lots of small SSDs can provide good bang-for-the-buck vs. single or dual large SSDs (512GB or 1TB SSDs are pricey). Price wise, the 8x Crucial drives cost me just under what a single 1TB Samsung 850 Pro is selling for today - expensive, but not so crazy considering the cost for an 8-core build and 64GB of RAM.
Finally, does a RAID 0 OS/programs drive help Premiere Pro performance?(this is an Adobe Premiere forum section) No, not really. Does it help some other applications, absolutely. Do all programs open quickly, yup. Does putting Adobe bridge "scratch" files on a big SSD RAID help, yes indeed! I am not using Lightroom, but suspect that is another application that would likely benefit from a large SSD array.
The best performing SSDs to do a RAID 0 with are the Intel 730 series drives, but those drives are still pretty pricey. The higher end Crucial drives (now being re-branded to Micron) really scale well with RAIDs. I've read good and bad things about using the 850 Pro drives for a RAID.