Been trying to find an solution to this problem for a year now - one would think Adobe would have addressed themselves but....
I have the Xacti E1 camera and it utilizes the AVC/H.264 MPEG4 video compression that both Premier Elements 4 & 7 plus Pro CS4 have sync issues with.
What I did was use Quicktime Pro to convert the Audio ONLY to wave – very fast actually. So basically in Premier I added the original MPEG4 video to the timeline, removed its messed up audio, replaced it with the Quicktime Pro wav file then regroup the wav audio and video to keep it clean.
Thanks for reporting your success, walk.
May I move this to our Tips & Tricks section?
Would be nice if Adobe addressed the problem as this std is used by most flash based video cameras