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Why not something like this:
Better yet, use a cheap DV camera to route and convert.
Go to my notes page http://www.pacifier.com/~jtsmith/ADOBE.HTM
The Dv500 will not work with Premiere Pro of any version... but it IS possible to use the card with other software
I'm considering an upgrade from AP 6.5 to CS3. It looks like the features in CS3 will be worth it. I don't think the lack of interface to the DV500 is going to be a big deal - I use the DV Tools to capture video through the DV500. I think - only an opinion based on reading alone - the only things I'll give up are the Pinnacle add-ins (transitions and effects, of which I only use a handful). I am going to install the demo for CS3 to see if I will be able to use the clips captured with the Pinnacle AVI codec. That will probably determine how soon I'll make the upgrade. I'm hopeful, since After Effects is able to export using the Pinnacle codec even though it has no interface to the DV500.
Earlier Dv500 codecs (I think through version 3) put Pinnacle coding in the AVI so it could not be used without the Dv500
The version 4.5a Pinnacle driver I use works just fine with SCLIVE for capture from analog, and the AVI imports into PPro3 with no problems (as I discuss on the web page link I posted)
Thanks everyone, I'll check out your suggestions.