I have a Sony HDR-SR8E camera that produces AVCHD 1080i anamorphic 1440x1080 files. I recorded a scene over 2 hours and uploaded to the PC and imported to Premiere Pro. The camera supports maximum file size of 2Gb while Vista 64-bit can handle much larger than that, as a result I brought it in as several clips each close to 2Gb, I put them on the project timeline in reverse order, then for each clip I right-clicked and selected effect speed/duration and clicked reverse. I then ran a pre-render visualisation that took most of a day, I then rendered via Media Encoder export, this took 24 hours. Media Encoder said this was successful but it was not. The mp4 file was size zero bytes and there were two files with numeric names one of which was an AACS file and the other of which was a m4v file not able to be played. So I get the idea Premiere Pro can not reverse that amount of AVCHD in 1 pass.
I solved this by using 1 project per clip and effectively rendering each reversal seperately, then I pulled the reversals back into a project put them all on the timeline in reverse order and rendered the whole lot out to give 1 file of almost 15Gb. This file wouldnot run in Apple Quicktime which I take it is due to size of the file but when pulled into Premier Pro as a clip in a project it does play, so this whole process worked.
I say this for anyone else contemplating reversing AVCHD video in Premiere Pro. Why it should take so long beats the hell outta me.