i will look up proxies but if it doesnt work out (ummm 2gbs of ram) and i need to do the vid in one day. how can i find out the codec of the HDV and how do i convert it?
I actually figured it out :D! But you have to have a transparent layer under the layer you want to use. So if you have a layer with transparency called Dog, then just add a normal empty transparent layer under it and save as PSD!