I have the same problem with my Z5U and the memory recording unit I use my CF cards on.
The problem I’ve found is that Premier doesn’t handle the large HDV files well when it captures. If you record in DV I’ve gotten picture, but not when I record in HDV. Try setting the device from an accurate Sony model camera to the general Sony. That’s what I did because the Z5U isn’t even listed as a device type.
Another problem is that from what I’ve found Adobe hasn’t made any updates that solve this problem. When I capture, I have to do it blind until I look at the saved captured files. Which is why I got an HVRMRC1K to help ease the pain.
I know my advice isn’t much help, ’cause I would like to know if there is a way to fix it too. But maybe it will help you figure a way to work around it.
Jeff Bonano
http://www.bonanoproductions.com
“I want to have a cool quote at the bottom of my signature, just like everyone else on the cow forum!” -Jeff Bonano