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Adobe is not going to release a 64 bit version anytime soon. Premier elements is the consumer package and they're doing the same thing they've done with Photoshop Elements. Restrict it to 32 bit architecture and limit the number of operations it can perform in 16 bit colour space.
http://www.sonycreativesoftware.com/vegaspro
Sure, Sony's been selling the 64-bit version for about a year+ now. It's only available for the Pro version though.
WOW..
Its amazing to think whilst users actually gave a damn about how productive software was 10 years ago, that these days all users care about are the technical specifications. If you guys think that 64bit support will change your life in any way, I hate to shock you, but it probably wont. But sure, boycott 32bit software if you want (because it will make SUCH a major impact for a consumer movie editing package that probably would have trouble using 1GB of RAM), but maybe also stop and ask yourselves, what would be gained, other then the smug satisfaction that your memory usage is less efficient, and encoding is slightly (but barely noticeably) faster.
It looks interesting. After the release of Windows 7, I am actually strongly considering upgrading our iMac to Windows 7(because OSX has so many weird bugs).Unfortunately, it is too expensive (compared to iLife) for me to use this. It simply isn't cost effective 
lol your an imbecile you obviously fail to understand about process space and ram mapping and swapping when process size is hit. You think consumer movie editing packages have trouble using a gb of ram? wow.. truly an idiot.
Yes I will not upgrade my version of elements until it can use all 16gb ram on my current box.



