Premiere elements will edit 720x576(PAL) and 720x480(NTSC) to suit your footage, but you have given yourself possible complications by buying a DVD cam, mini DV is still best SD picture quality and easiest to edit.

Make sure any tripod you have has a fluid head which has adjustable tension.

I have used an MP3 player/recorder connected to a sound desk or a decent mic to capture speech and got good results.

Have a look at ND and Polarising filters, WA and TELE conversion lenses too, as these can really add to the look of a clip and are reasonably cheap to buy.

Mostly take the cam off of auto and learn how to use any manual features your camera may have, like Focus, White Balance, Shutter Speed and Iris control.

Lastly have fun and good luck.

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Edius Pro, ADVC300