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They do. It's called Premiere Elements. Premiere Pro is geared more towards professional media that is better suited to editing.
The best answer to this question is quite simple. Premiere Pro is designed to take video off of a video camera and edit it. That's it. All there is to it.
Starting with MiniDV, the standard definition video is transferred from the camera to the PC is a process called "capturing". It is merely a file transfer of ones and zeros. No changes are made to the video or audio as it is captured.
With HDV, it is pretty much the same except that scene detection is not available and you can't see the video on the PC as you capture.
With the new P2 cards, it is truly a matter of copying the files from the flash card to the PC.
AVCHD is one format that Premiere Pro does not handle from a camera. Yet. I expect it will happen reasonably soon.
MOV is supported since that is the way that DV or HDV may come to the editor from a MAc user. Quicktime must be on your system to use MOV files.
All of these other formats have already been edited. WMV, MOV, DivX, etc. If you have the WMV and you shot the material, then use the original material that you edited before to create the WMV file. Make sense?
Also, is the version that you downloaded is the "trial," or the "full," with registration key/SN and Activation?
MPG (many flavors) are supported by the FULL, but not the "trial" versions. The support of MPG will differ, depending on what sort of MPG it is. There will likely be some problems, that will be specific to that particular file. You can often get good results, if things line up perfectly. However, as others have stated, compressed file formats are not what PPro is designed to work with. Quality will suffer. Problems with GOPs will exist. If you do not mind these, then the FULL version will work, with limitations.
As for VOB handling, that will not happen, except with intermediate steps taken BEFORE you try to Import into PPro. You'll need a full toolbox of utilities, but most are freeware, or rather inexpensive. Still, this work will be outside of PPro.
The FULL version has a 30-day, money-back guarantee. If you have the trial version, remove it completely. See Eddie Lotter's PPro-Wiki for complete details and follow EVERY step! THEN, and only THEN, install the full version. Try out the MPG aspects and see if you can live with the results and the little problems. I think it works fine with many of these files, just so long as I inform the client that there WILL be a quality loss and extra time to trouble-shoot. They still bring in compressed formats, so if they're happy, I'm happy.