The best way is to load the clip in the Source Monitor, add in and out points of the first segment you want, then drag the image in the source monitor onto the timeline. Repeat.
You can create items in the Project Panel by dragging from the Source Monitor to the Project panel.
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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I was hoping to create the takes as seperate things in the project window so that as I work on the different sequences, I can simply pick and choose the takes I need. Is there a way to do that without creating new AVI files?
Create a sub clip.
As described above set in/out points then ALT drag it back to the project panel to be renamed a subclip.
Has Adobe fixed the subclip operation yet? (Can't go beyond In/Out in Source, but can by default in Timeline.)
Thank you, that is exactly what I needed to know!