Not in the Project panel, no. However, you only need to do the synch once in a sequence. You can then drag the sequence (with the synched audio video) from the Project Panel into the source monitor and it will behave the same as a clip.
You will also find links to many free tutorials in the PremiereProPedia that will quickly show you how things are done in Premiere Pro.
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You're talking about nesting sequences? I've heard that you don't want to do that too much because it can cause problems with a large number of nested sequences. Is that no longer true with CS4?