It is generally believed by video pros that the DVD camcorder was a stupid invention.
That being said, most DVD discs have a series of VOB files. Copy the VOB files to your hard disk and change the extension to .mpg and import into Premiere Pro 2.0. Usually the first thing I do with a VOB file is convert it to DV-AVI. But you may be able to edit it no problem.
If you have Premiere Pro 1.5, it may be best to capture via firewire as DV – does a DVD camcorder have this function? Perhaps not since it certainly does not convert from MPEG-2 to DV on the fly during playback.
You can use a program such as Virtual Dub with the MPG2 plugin to convert MPG2 files to a flavor of AVI, although not necessarily DV.
Did the camcorder come with editing software?
When people ask me “Can you recommend a good DVD camcorder?” I respond “No, I can’t”
Good luck.
Mike