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The DMC-FT1 is not a traditional hi-def camcorder. It records AVCHD Lite to a flash memory card. Premiere Elements does not support AVCHD Lite.
The FAQs to the right of this forum offer more information on working with this hybrid format.
Thanks. I had a look earlier at the conversion recommendations (http://forums.adobe.com/thread/454585?tstart=0), which seemed to work correctly for me in Premiere Elements, and again using the Koyote Soft product. However, both resulting files still play without audio in Premiere Elements. Strange, I am able to use the (incredibly bad) software product supplied with the camera to import and play the videos with sound; but everything else I've tried has been unsuccessful. (I'll post on how I go with the new iLife 09. I see it's supposed to improve support for AVCHD Lite.)
I'll keep exploring the other FAQs you mention, but happy to hear any other tips as well. Thanks again.
What formats is the software that came with the camera able to export? It's possible it could output a format you can edit in Premiere Elements.
The AVCHD Lite software provided with the Panasonic camera really is quite useless. I'm not able to export the video files from the software at all.
It's a shame, as the camera does produce great quality HD video, but right now I don't see any way to edit the clips with audio or successfully convert them for editing. I'll keep my fingers crossed that iLife 09 provides a break through, and will update this thread once I find a solution. Thanks.