What kind of camcorder did your video come from and how did you get it into your comptuer?
When you set up your Premiere Elements project, which project settings did you select?
If you're looking for some basic how-tos for using the program as well as information on how to properly set up a project, checck out my free 8-part Basic Training tutorials at Premiere Elements support site Muvipix.com.
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The MPEG is but a wrapper, like AVI, WMV or MOV. It is what's inside, that counts. This ARTICLE will give you details, and tell you how to peek inside the wrapper.
Matching your Project's Preset to your Source Footage is very important. Does yours match 100%?
Also, MPEG uses GOP structure, so cutting it, can present another issue, but if Imported correctly into a Project, set to match, the material should be converted to I-frame, by PrE, to allow frame-accurate cutting. This ARTICLE will give you more info on GOP.
Thanks for the help guys. I got the project set up correctly, and all seems to be in order. I also think there may have been issues with converting when rendering the final product, but I could be wrong on that.
also thanks for the tip on mpeg and GOP, i have noticed in the past that editing files from this camera can lead to the sound and video getting out of sync. oh and to answer your question, it's just a simple sony point-and-shoot that i was editing for this particular footage, though I also have a flip (and I did see that there are settings for my flip)