How to setup Adobe Premiere with custom settings for your project.
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In order to correctly setup the sequence in Adobe Premiere CS5 Pro you must understand the source video settings that you will be working with in the sequence.  To do this simply import the video, select it and look at the top left side of the screen. You will see something like this showing you the information about the video.

 
 
 
 
 
 
What is really important to note here whether or not the PAR is 1:1 from the start.  If not you will have to change that setting and the video may become pulled or warped.
Depending on your video format, you may have to play around with the settings to get the right output.  If you need help leave a comment.
Simple Steps:

1. Open a new or existing Adobe Premiere CS5 project.
2. Do not select any preset sequence setting.
3. Import your project files.
4. Find out the important footage information.
5. Click on File New Sequence then select the General Tab.
6. Pull the dropdown box and select Desktop
7. Manually put in the aspect ratio you want and Pixel Aspect Ratio of the source footage
8. Make your video and Render it using the sequence settings.

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