Dear Videofx (by the way, I REALLY like your moniker!), NO. I have a Sony EX1 with SDI out to the nanoFlash, feeding it with 1080x1920 30p, and recording at 100 Mbps long GOP. Premiere Pro CS5 handles the nano files video beautifully and renders lightening fast on my properly equiped rig. BUT the audio is an abomination!!!!!!!!!! And is UNUSABLE. And has been since it was released, and still is this morning, despite the one update provided by Adobe. I refer you, please, to the Convergent Designs' Forum http://www.dvinfo.net/forum/convergent-design-nanoflash/, and my previous and current post under the moniker of William Urschel, for up to date info and comment from the wonderful CD staff re Adobe apparently having two nanoFlash in hand. But still no fix.
The problem from the gitgo and currently is that a stereo audio signal from nano in Premiere CS5 timeline results in one channel lagging the other, and as someone else just posted this morning, one of those stereo channels appears to be locked, while the other one drifts.
As I just indicated, much to my grief, my Production Premium CS5 upgrade sits on the shelf.