I wonder why manufacturers make finding specifications so difficult. Your camera records in AVCHD which does not show up in the specifications. Which is a specific form of MPEG. Since your camera only records in Standard Definition it may fall into the category of AVCHD Lite but that is defined as recording at 720p--which your camera cannot do as it is a 720 x 480 pixel video camera with a 16 x 9 aspect ratio viewfinder. Your guess is as good as mine on getting this video properly into CS4, I would call Adobe and see if they could tell you. Premiere is supposed to handle AVCHD but camera manufacturers are coming out with so many variations that it is hard to tell. If you already have the camera and Premiere try it and if you run into problems come back here. If you have either yet to get do so more checking before you invest real money. Since the trial version of Premiere does not come with MPEG codecs that is of no use.
This may well not be related to the original post's question but...
I have been playing with premiere elements the last few days for a friend and I have to say it works remarkably well. This was only version 3 as well. My friend is using dvd files from a sony camera. And to my surprise, it will import the video and sound straight from the dvd disk with no conversion. For those who have use of these video clips I would highly recommend it.
And I would like to say that I wish premiere pro would pick this feature up. It's not very often that I need it (only once for me) but it would be nice to not have to drag up another program to do this.
Your camera records in AVCHD which does not show up in the specifications.
I found one set of specs which claims it is MPEG2.
Basically, satacume, you're trying to pair a consumer camera with a professional editor. My general advice is to keep the two on par with each other. For your camera, use a consumer editor. Like Phil said, maybe Premiere Elements. I understand Movie Edit Pro from Magix also works well with your media. Or, get a more professional MiniDV camera if you want to edit with Premiere Pro.
Thanks everyone for your comments. I will see which is more suitable for me.