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Premiere Elements can work with video from any source, from DV camcorders shooting 4:3 or 16:9 (widescreen) standard-definition (SD) video to the latest HD camcorders. For the best results, you should choose a project setting that matches your source footage by following the procedure described here.
After you choose a setting, Premiere Elements automatically uses the same setting for all future projects, which should work well if you use the same source video format for all subsequent projects. Should you change the format, however—for example, from DV to HDV—remember to change your project setting as well.