Do you have any AntiVirus software doing on-access scanning? That's one
possible reason. Try turning off on-access scanning until you're done
editing and see if response improves.
Nope, no anti-virus software.
As I mentioned, I've opened several other projects in premiere and they don't give me any lag when pausing and then playing. Once I come back to this specific project I'm working on though, the lag is there. So that leads me to believe the issue is specific to this project.
EDIT: I did forget to mention that this is a project that I've edited over my network as well... So, the project is stored on Computer B, and I've edited it through my network from Computer A. Could this be the cause of the problem? The save location has always been Computer B...no files are stored on Computer A, plus, I've done this before with AVCHD projects and not had an issue.
Definitely. Move everything to your local computer and try again. That will probably solve it.
As I edited that post, I was already in the process of moving the project to my main computer but I'm getting the same result here. I tried switching from the mercury playback gpu acceleration setting to software only and still no change (even after deleting all the previews). Is there any way to delete all traces that the project might have with the other computer? Like making a new project on my main computer here, and copying and pasting the content on the timeline into that new project so that Premiere will RE-conform the audio, video, and create new previews, etc?