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It's hard to say without knowing more about your system, drumr. Things like what operating system you're using. Which version of Premiere Elements you're using! How fast your hardware is, how much RAM you have, how much free space is left on your hard drive, etc.
The more clues you can give us, the more likely we'll be able to help.
I am running on Windows XP Media Center Version 2002 Service Pack 3. I have Premiere Elements 8. I have 3 GB of RAM and about 53 GB of free space.
Have you got the latest version of Quicktime from Apple.com?
Also, go to Windows Update, click the Custom button and make sure you've got all of the non-critical updates. There are often a lot of important hardware updates among them that don't otherwise get installed.
This is a pretty old computer, so it might could use some basic operating system maintenance. Here's my weekly regimen.
At the very least, make sure that hard drive is defragmented. The problem your describing is often related to issues with contiguous free space.
Although you may also have a corrupted Organizer catalog. So if everything else fails to fix your problem, we can try rebuidling that.
I do have the latest Quicktime and I'll try the Windows Update you suggested. Thanks a bunch.