What model of camcorder is your video coming from and how did you get it into your computer?
Which project settings did you select when you created your Premiere Elements project?
Both the player in Organizer, and also the Source Monitor, are simple players. The ability to edit the Clips depends on several other aspects, like CODEC and Project Preset - hence Steve G's question.
Good luck, and please let us know more,
PS - welcome to the forum.
I also installed PE9 on my home PC and it works fine with all of the different camcorder footage I have, including 1080i (60fps) HD off of a Panasonic, VGA from a Sanyo Xacti, to captured video from an 80's camcorder. So it really isn't a problem with the sources or the format of the project. Are their playback settings I should be looking at, to force PE9 to use a software only mode it is doesn't like my video card?