Hello, The two main problems I had with Premiere Pro CS4, was QuickTime, and I upgraded to 7.6 and fixed that. The other problem that I had was crashing as soon as I had opened Premiere Pro CS4, and specially since I had downloaded the latest updates. The interim fix was to manually select the updates and avoiding Premiere CS4 updates, and just updating all the others.
However, the fix to the problem now turned out to be my NVIDIA Geforce 7600 GS card, I updated the driver to it to the latest, and woala it works!