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Yes it can.
A similiar question. Can I run both versions on the same drive?
I do. Works like a charm. :-)
Make sure your cache locations are different, I ran into a problem when both 2.0 & CS3 shared a common cache location.
Solved by keeping them seperate.
Thank you very much for the info.
marotti, the Adobe Premiere CS3 minimum system requirements for the CPU are:
"Intel® Pentium® 4 (2GHz processor for DV; 3.4GHz processor for HDV)...."
So you are in good shape for DV editing but at the bare minimum for HDV.
PPBM+ Premiere Pro
DV & HDV Benchmarks
Yes, Thanks Guys !!