I recently purchased the panasonic NV-GS 150, an awesome camera, but unfortunately incompatable to capture into premiere pro 1.5 / 1.5.1. I did some research and found out there are alot of cameras that are incompatable, a bunch of people in the adobe site with this compaint - the error message that comes up "cannot activate recorder, try resetting your camera".
So just a warning, make sure you know someone with your camera, and know it works with premiere pro, before upgrading to pro, or buying a new camera.
Adobe will likely bring out a patch to fix this, but ow long is the question...
a friendly caution - 46137