Welcome to the forum.
Are you planning on doing live Capture?
If so, you will want to look into PrPro, and use a program, that ships and installs with PrPro, On-Location. That program has its own forum, and you will find a lot of answers there.
You've got a number of challenges here, Kelly -- not the least of which is that you're trying to edit video from a $6000 professional camcorder on a $75 consumer video editor. You're much more likely to have success with a professional editor, like Premiere CS5, Vegas Pro or Final Cut.
The other challenge is that this camcorder records at a number frame rate in a number of formats, many of which are not compatible with Premiere Elements.
Still, if you're shooting in 1920x1080 30p HDV and you're connected to your computer via FireWire, you may be able to capture and edit the video if you've got your PRemiere Elements project set up for HDV. It's worth a try anyway.
According to the specs online though, the only consumer format this camcorder is capable of shooting at 30i is 720x480 (standard definition) 30i miniDV. None of the hi-def modes are standard consumer modes.
Still, this is predonimantly a DVPro camcorder. And the odds are much more in your favor if you edit its video with professional software.
I do plan on editing it with Final Cut Pro - which I do not own, but will be using at the community access channel whose equipment I'm using. The issue I'm having is that they do not have P2 cards and they are expensive to rent. I was hoping I could still shoot in HD by bypassing the cards and going directly to a harddrive, but I'd need software to do that...I own Premiere Elements, not Pro (no budget for it yet), so I wanted to see if that will work.
If not, I'll have to shoot to miniDV. Makes me sad though, cuz I can shoot 720p on my flip camera and export HD that looks great...using an awesome camera will actually be forcing me to use SD, unless I can figure out a way to capture digitally.
Anyway, I'm gonna try.
Besides On-Location, there are probably other programs, that will allow for live-recording to your computer, but I do not know which ones would likely work. You might want to investigate those. Unfortunately, to my knowledge, On-Location is not available from Adobe as a stand-alone program.
Thanks for the info guys! I'll let you know how it goes. We're shooting the end of next week and my fingers are crossed that the HDV capture will work!