I ran the Premiere Pro software on my IMac, running OS X version 10.5.5 with a 2.8 GHz Core 2 Duo processor and 4 GB of RAM. The software all operated smoothly and efficiently. It did however, on two instances, encounter an "unexpected error" and shut down. Fortunately, I save early and often (a great rule of thumb for anything you may be working on) and Premiere will auto save your work too, so I didn't lose anything. But, it was a bit annoying. [Editor's Note: According to Adobe, there will be a 4.0.2 release coming out in the next month, which will fix some bugs, including performance issues.-JH]
As to performance in the actual workflow, I felt that things moved quite smoothly and efficiently. I did have some trouble working with the audio controls, as they simply felt more sluggish and less responsive than I would like.
Aside from these small issues and my failure to connect with Encore as much as I did with other pieces, the Premiere Pro CS4 package is very impressive and performs very well.
I know that to we no/low budget filmmakers $799 is a decent chunk of money. It is, and I totally understand that. However, having a professional capture/edit/authoring suite is one of the best investments you can make. And, don't forget that the $799 is only a one time expense. After the initial purchase you can upgrade for only $299.
I've seen people with decent films and/or music videos forced to limit themselves by using Windows Movie Maker or IMovie. That's all well and good, but to be that limited is only going to hurt you in the long run. If you're serious about making films, then it is essential that you invest in good, professional grade software. Adobe's Premiere Pro CS4 package is one of the two best on the market for the microfilmmaker and is well worth the money. You'll be glad that you invested! (If you want an even better value, you can get the entire Production Premium package. While it’ll run you $1699, you get nearly $4200 worth of absolutely essential software for film production.)
So, I'll wrap this up by saying that I'm very pleased with this software package. It does everything you need as a filmmaker from capture to making your DVD/Blu-Ray discs. While I found Encore to be a little more visually complex than other DVD authoring software packages, it does offer the option to create Blu-Rays with pop-up menus and the ability to make Flash websites of your DVD, two things that are unique to this package.
Adobe has gone above and beyond to make a package to meet all your needs and has made it as user friendly (my opinions of Encore notwithstanding) as possible. If you are still on the fence about which editing solution to try, you should definitely download the trial version of Premiere Pro CS4 (which comes with a trial version of OnLocation, as well) and see if it’s right for you!