Premiere Elements works with any of several pre-set project settings -- but you can't create custom project settings. And it won't support video as non-standard as 1920x600.
Sorry. You'll need to upgrade to pro software to work with that footage.
so would premiere pro CS5 let me go to a non standard format?
(or should i ask this in the PP forum?)
Yes, PrPro allows one to do a Custom Sequence (think of those as mini-Projects in one Project), and almost all attributes can be altered, as is needed.
One big plus with PrPro CS 5.5 (current version) is that one can much more easily mix footage in one Sequence.