Thanks Jim. I am using Premiere CS5.5 on Mac. My source footage is 4k R3D. Am using Mercury Playback Engine GPU Acceleration.
I have used cross dissolve at a few cuts, used default settings for the transition. However, the transition doesn't seem smooth both in previews and after render. When I compare mine with the transitions in films and film trailers, those are much nicer, smoother. Is there some settings I need to change - or are there some third party plugins that would give better result? Thanks.
This has been a 'feature' for some time when using Hardware MPE, I find if you use software only, the fades are much smoother. There is a 'Film disolve' in the transition folder which is better but still not perfect. Let's hope that this has been fixed in CS6.