Yes, Premiere Elements can certainly edit hi-def and AVCHD video, assuming your computer is powerful enough to be up to the task.
However, that camcorder has the option to shoot in 60p and 50p in addition to the more traditional 60i and 50i.
If you shoot in 60i or 50i AVCHD, you should have no problems. But if you shoot in 60p or 50p, you're going to have problems.
Actually, in looking over that cam's specs, it appears that it ONLY shoots in 60p or 50p. Check with your retailer. If this is the case, you do not want this camcorder -- unless you're also willing to spend a few hundred dollars more for professional editing software.
Stick with cams that shoot in 60i and 50i and you'll be fine.
Well I can no longer return the camera so I am going to have to figure something out. Do other programs, non professional versions, allow this? If so which ones might
If the camera will ONLY shoot in one of the "p"(Progressive) formats, then I would look to Adobe PrPro CS 5.5, or perhaps another NLE program. There are some other good ones out there, but I cannot tell you which ones might be better, beyond the much more expensive PrPro. Cyberlink's PowerDirector, Magix MovieEdit Pro, and several versions of Sony's Vegas, all get good general reviews, but I don't know how any handles progressive Video files. Maybe others will have very specific recommendations for you.
Good luck, and enjoy the new camera,
Premiere Elements currently support 60i/50i AVCHD editing. Sincee your camera shoots in 60p/50p mode, you wont be able to successfully edit your videos using Premiere Elements.
I would suggest Premiere Pro for your purpose but if you want non-proffessional ones, then i dont know much about them.