Thanks that worked! Are my project settings right? This is what I have:
Sequence Preset: DVCPRO HD-720p24
Capture Preset: DVCPRO HD-720p24 48 kHz
Device Preset: HDV FireWire NDF
Video Playback: AJA Kona 720p25 8 bit DVCPROHD (1280x 720)
Also, I am working in an editing suite that has a TV monitor to preview your work. When the timeline is still, you can see the image on the monitor. But when you play the timeline or render a preview, it wont play on the monitor. How can I fix this?! Thanks!