[Ross Spears] ” It was suggested to me that I buy a Black Magic Decklink Studio deck to use.”
Not a great suggestion.
[Ross Spears] “Will it work with AVID?”
No. Avid does not support any capture cards from Blackmagic at this time. Media Composer Version 5.5 does support, in addition to Avid hardware, the AJA iO Express for capture.
You could conceivably use the Media Express 3 utility, which is bundled with Blackmagic cards to capture the footage to a Quicktime codec readable by Avid, then import the files. If you upgrade the Media Composer 5.5, you could also use AMA to edit with the Quicktime files captured by Media Express.
But again. No. You cannot use this card directly with your Avid system.