I'm using Ulead VideoStudio 9.0 (latest patch) I get the titled message when I go to the 'Movie Wizard' and try and capture any video. The dialog box can be seen here
Out of the 3 capture plug-ins 3 do this and the MPEG capture says there is no device or driver.
When I start a capture it does manage to start my camera playing so it does see the camera. Although it doesn't seem to know a lot about the device as it reports it as "Unknown -- MSDV".
Windows XP SP2
Ulead VideoStudio 9.0
Panasonic NV-GS150 - Connected Via USB 2.0