PRE7 works. I'd stick with it until PRE9.
Insanity is hereditary, you get it from your children
Both programs offer similar features. Of course, with any current version, there are always a few more bells and whistles.
After the Premiere Elements 8.0.1 Update (Patch), I have found that Premiere Elements 7 and Premiere Elements 8 performances are on par with one another. And, now have a video editing workflow using version 8 routinely with earlier versions as backups.
No matter what you have heard or read, the final choice should be made on a free 30 day tryout from Adobe before purchase using the computer environment which will be used.
From a practical point of view
a. Stay with Premiere Elements 7. For just a few examples, if you are hung up on the way Premiere Elements 7 handles 5.1 channel sound or want to be able to apply the same duration to multiple Timeline components all at the same time, then Premiere Elements 8 is a consideration. BUT, for just about every new feature, there seems to be a workaround in the earlier version. Important to note that major new version 8 features such as automatic Background Rendering and AutoAnalyzer are best left disabled and used on an on demand basis. Remember that Premiere Elements 8 has a much larger footprint than Premiere Elements 7. And, rendering the Timeline in the Edit Mode is needed more so in Premiere Elements 8 than Premiere Elements 7 to get the best possible preview of the end product.
b. Go with Premiere Elements 8.0 as the 8.0.1 Update. If the price is right and you are in immediate need of a video editor....but even then go the tryout route before purchase.
I could add more on the topic, but that is it for now.
Many thanks ATR !
I think I completely agree with you.
I will stick with Elements 7 in the meantime.
If it aint broke, dont fix it !!