my new CS5 Premier Pro does not reconize my camera and give me unsupported codex error when i attempt to import mts files
As far as I know, MTS files are not transferred via Firewire under Premiere's control
You use Windows Explorer (at least I do) to either copy individual files to hard drive from your camera's hard drive or memory card... or, for some cameras, you copy the entire folder structure since required metadata is contained in the folder structure
Once you have the files or folder on your hard drive, you may import the files into Premiere
Also, if you are using the Trial version, it does not support that file type
This problem occurs on iMac using USB cable.