Oh wait, I think I found a way, just hold CTRL down while dropping the clip into the timeline. I am beginning to see if you want alternate results from a logical action, just experiment by pressing ALT and CTRL when executing the command. I am still getting used to CS5, very much a newbie.
Also, Premiere will usually tell you what a tool or operation does, and what modifier keys can be added to change the action. Just keep an eye on the bottom left of the application window for status messages. For example, when dragging a clip to the timeline panel, you'll see:
This is a quick way to learn additional functions that you might otherwise do the "hard way." In time, these will become automatic--muscle memory is a beautiful thing (unless you edit on three different NLEs... then you're in trouble).
And Roger, when you wish that things be applied pretty much globally, make sure to Target all Tracks, where you wish for things to happen. Targeting multiple Tracks was added in CS4.