Taylor,
It was a corruption of my permissions. It occurred the day I updated to Quicktime 7.6.
I tried re-naming my preference folders, throwing out my preference folders, and re-loading CS3; but it didn’t help. As long as QT 7.6 was on my system, Premiere CS3 wouldn’t run.
We had to re-load the system software, re-load Adobe CS3 and update everything (except Quicktime, which I’ve left at version 7.5.5). I won’t update it.
Hope it helps. Love to hear if anyone else had the same issue.
Mike