I've just started to play with CS4s transcribing feature, which so far seems amazing.. on our mov files.
No so amazing is the fact that the option is greyed out for all our .DV files.. which are the vast majority of our raw footage. (Shooting standard def and capturing off camera, or shooting to compact flash card and capturing).
I'm wondering if its because the footage was captured with Final Cut HD, or if its something to do with DV files natively?
Any ideas much appreciated (The Adobe documentation says Premiere creates a companion file for transcriptions if the xmp metadata can't be embedded into the video file).
Just tested this with a .dv file I happened to have on hand, and you are indeed correct. However, if you highlight the clip in your bin, and select Clip > Audio Options > Extract Audio, a WAV file will be generated and placed in the bin. You'll find that you can now transcribe this file.
Now, I don't think there is any way to attach the transcription to the original file. I believe this is because a .dv file doesn't contain the necessary headers required for the metadata to put its "hooks" into. The .dv file is basically a "raw" file. However, you could run this file through AME to turn it into a QuickTime DV file contained in a MOV wrapper, and you'll then be able to generate and attach the transcription to that. Alternatively, you could just keep the extracted WAV file from the original step with your DV file.
ADDENDUM: Just found that you can import the .dv file into Soundbooth (if you have it), and for some reason, you can do the transcription there. The transcription XML file should stick to the DV file and follow it into PPro. If you don't have SB, you'll have to follow the process above.