Just purchased Master Suite and when trying to record in Premiere Pro CS5 through headset set up or microphone, all good equipment, I get lots of echos and intense "reverb" I believe... tried changing settings and turning off speakers etc.. with no luck. Any suggestions would be appreciated. FYI, was using Camtasia and had no problems at all.
Use Soundbooth. It's much easier for this type of thing.
Can you tell us all about the acoustics of your studio?
Also, knowing the make/models of your mics, and how they are set up would be helpful.
Do you have the output to the speakers active? I would turn this off.
Do you get the same problems, in other software (per Jim's suggestion), without making any other changes?