Premiere Elements does not use graphics acceleration to play your video, so your video card is pretty much irrelevant.
There were issues with nVidia drivers and version 10, but nVidia supposedly resolved the issue.
What model of camcorder is your video coming from and what format and resolution is this video? Version 10 was not built around an MP4/AVC workflow, as more recent versions of the program are.
I have the latest drivers installed.
The file format is MPEG MOV 1920 x 1080 and they are coming from Nikon D3200 and D7000
As I said, I can edit if I turn off my driver but then my screen drops to a lower res and it's a hassle.
As I said, version 10 won't handle this video format as well as later versions.
Try downloading the free trial of version 15 and see if your performance is any different.
BTW, what processor do you have and how much RAM?
Win 7 - 64bit
i7 - 5820K - 3.3GHz
I would think that's more than enough power to run this program
I'll try Version 15 and see if that works any better.