I have Premiere Pro 2.0 and Elements 3.0, both with the same problem. Both programs worked well for a while, then all of sudden imported clips started to play at about 2x in the timeline or source window. In other words, the CTI/cursor moves about twice as fast, with the timer counting at double the speed (ie a 2 min clip plays in 1 min). Audio is suppressed. It is as if it is reading the clip's framerate incorrectly. There is nothing wrong with the clips themselves (they play find in Windows Media Player).
I have tried to uninstall/reinstall both programs. The only thing I can come up with is that a certain codec or driver has stopped working. I do not believe there is anything wrong with my hardware, since I dont have any problems with any other programs.
Windows Vista running on a 300GB hard drive with lots of space with 2GB RAM on an AMD Athlon dual core processor (ie a strong computer). Video card is NVIDIA GeForce 8300 GS, driver is nvd3dum.dll,nvwgf2um.dll.
PLEASE HELP. I have spent many hours trying to fix this, and Adobe wont help me since my version is not the most current. I must do video editing as part of my job, and I must have this working again... please feel free to reply via this post or to Daniel at firstname.lastname@example.org.