Have you tried connecting the camcorder to your computer with a FireWire/IEEE-1394 connection and using Premiere Elements' Get Media/HDV Camcorder tool to capture the video?
Importing this video is probably not the best way to get it into a project.
(At least I'm assuming that when you say HDV, you mean tape-based HDV video -- and not AVCHD or some other hi-def format.)
Welcome to the forum.
If I understand correctly, your camera records the two channels, as 1 Left-channel and 1 Right-channel, each as a mono source. Is that correct?
If you have the two 1-channel Clips on the Timeline, they will be mixed down to a 2-channel Master (stereo), with output.
The same will happen with other Audio source files, whether 1-channel, 2-channel, or 6-channel (5.1 SS). This is automatically done with Export/Share.
If I missed what you have, and what you need, please correct me, and good luck,
You are right, source is digital HDV tape video and it has been previously captured in the format I have described. Re-capturing with premiere elements should be a solution of course but, since many tapes must be transferred again, is an effort I want to avoid.
My camera is a canon HV20 and this way of creating the files while capturing tape footage is done by Pinnacle studio. Now I want to edit these captured files in Premiere elements.
Pinacle created from the tape
one video file .m2v
two audio files .wav
Do you suggest that I arrange these files in premiere in the following manner on the time line:
video 1 = video file .m2v
audio 1 = left channel
audio 2 = right channel ?
Yes, that would work fine. As the two channels were split by Pinnacle (wonder why it does that?), from the camera, they should Snap into place and be in sync, especially being WAV. The mix-down will be done automatically upon Export/Share. Same for mix-downs of any other Audio sources, like music, or SFX on other Audio Tracks.
Now, just to make sure that you are getting what was originally recorded, open up Audio Mixer, and if necessary, Pan the Left Channel more to the left, and the Right Channel more to the right. Do not be temped to Pan them all the way in either direction, as you want some phantom center, and that comes from a touch of left in the right, and a touch of right in the left. Most Audio editors prefer working with pure mono sources, as they can then locate them, as needed in the mix-down. I feel that way about 6-channel Audio - give me 6 discrete channels, and let me work with those.