I don't understand "after I have selected a generic icon". Can you describe exactly what you are doing?
If you haven't already done so you should work through these basics:
Install all Windows Updates.
Install latest version of Apple QuickTime (v7.6.8 at time of writing). Even if you don't use QuickTime, PRE relies heavily on it.
- Install most recent graphics and sound drivers from the manufacturers web sites.
- Run Disk Cleanup.
- Run Defragmenter.
- Temporarily disable any anti-virus realtime scanning.
- Use the GSpot Codec Information Utility to analyse the file and post screen image.
- Post back here with the necessary information described here: Got a Problem? How to Get Started
Insanity is hereditary, you get it from your children
Also, please let us know what kind of camcorder your video is coming from and how you got it into your computer.
And advise us if you are using the trial version of Premiere Elements 9 or some other version.