I'm not sure if this was already posted, but I discovered a little workaround to use both apps, in a similar way that Premiere Pro 2 and Adobe Audition 2 work together. Just make sure you have soundbooth installed too, and do these steps:
-Open Adobe Bridge
-Click in Edit > Preferences (or Press "Ctrl + K")
-Click in File Type Associations, and select the audio files like .wav, .mp3 or the format you'll edit in AA3, click in the down arrow and then Browse
-Point to the Audition.exe file in the folder C:\Program Files\Adobe\Adobe Audition 3.0\
-Click OK and close Bridge
Now open the Premiere Pro CS3:
-Right click the audio track / piece you want to edit, select Edit in Adobe Soundbooth > Render and Replace
-It will render a temp file and open Soundbooth, you can close it now and come back to Premiere Pro CS3
-In the left window, where the audio and video files are placed in Premiere, right click in the new audio file that was rendered and Click Reveal in Bridge. It will open the Adobe Bridge window now.
-Right click in the file (in the Bridge window) and select Open with > Adobe Audition 3.0 (default).
-Be happy and edit the track in Adobe Audition now! When you save the file and come back to Premiere pro, it will re-render automatically and you wont touch your original source audio file!
I hope this helps a little the people who wants to use AA3 and Premiere Pro CS3, and if it was already posted, sorry for the incovenience!
I still do not understand why Adobe took out the functionality that was available in 2.0 and did not return that functionality in 3.2. What could have been easier than adding 'Edit in Audition' as a choice, but greyed out if that was not available?