Well, yeah. That's kind of what video editing is all about, dr.
Just put all those pieces together on your timeline and then use Share to output your new video. (Which Share option you use depends on how you're going to distribute your video: on DVD, BluRay, online, YouTube, etc.
Meantime, if you're interested in getting to know the basics, check out my free 8 part Basic Training tutorials at Premiere Elements support site Muvipix.com.
They may help you with the terminology as well as the techniques.
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Welcome to the forum.
The way to "combine" those Trimmed Clips, is when you Export/Share to an AV file.
What you see on the Timeline are actually proxy files, showing what operations have been performed so far. PrE is a non-destructive editing program, so the original Source Files have not been touched - only a representation of your operations. The PREL file is but an XML database, with links to the original files, and then instructions on what to do, when you Export/Share. At this point, the only thing that exists are those instructions, and then the representation, that you see.
For more info on the PREL files, see this ARTICLE, which also discusses Saving the PREL, in all three variations, plus AutoSaves.
I also will second the rec.for Steve's Basic Training Series, and this ARTICLE has some more learning resources.
Thanks guys, very helpful... I was thiking of the prel file like a .psd file in photoshop - that no matter what you wanted as your end type, it's always useful to save the working psd, since it has the layers, the resolution, the full color depth, etc... But yeah, sharing to a video file, and then just importing that back in makes total sense. Do you have a recommended format to keep as a master for later editing, and where do I find it? I spent a good 40 minutes yesterday trying different things until I found the specific type of MP4 file I wanted to use... hidden under the Igear stuff. When I first thought to start this, I had a copy of v4 that came with something else, and the share options in that were pretty limited... now its overwhelming!
I'm gonna keep playing around the rest of the weekend, and then go view the tutorials and articles... I get a lot more out of instruction if I manage to mess things up a few times first!
Thanks again for the speedy replies!
For later editing, there are a couple of choices. If the Project is SD, the DV-AVI is very good. If the Project is HD, then I recommend a lossless intermediate file, and this ARTICLE will give you some suggestions.
As for Saving, I agree with you, though the PREL is different from a working PSD in Photoshop, though there ARE some similarities, when one gets past the idea that the PREL is an AV file, like the PSD is an Image file.
Good luck, and learning the differences in the various Save modes, can be very, very important. I use each of the three often, and also rely on the AutoSaves (something that PS has never had, and with good reasons).
Good luck, and happy editing,