Hi!
I am having a similar problem. I usually use fcp but I am trying out Premiere CS5 because of it’s ability to link to after effects.
I am editing and doing fx (compositing, filters, 2.5d cameras, lens flare etc) in Premiere on footage shot 1080 24p on a Cannon 5d.
I am on a brand new Mac Pro 2.8 Quad Xeon with 8 gigs of Ram.
It was great in the rough cut but as I have proceeded with the FX Premiere has gotten slower and slower, with the rainbow wheel appearing for minutes just when I move in the timeline and it now can take up to 30 minutes just to open or save the project.
The linking to AE CS5 was working great but I was worried that it was slowing things down so I rendered out all of the AE files as video clips. I replaced most of the linked clips in the time line with my renders and it was still sloooow.
What am I doing wrong? This machine and this software should be able to handle this project yeah? I have Premiere’s memory usage set at 6.5g.
This is for a 1min and 30second trailer cut down from about 2 hours of footage.