I am getting ready to edit a feature film in Adobe Premiere Pro CS4.
"Really? Shouldn't you be editing in Final Cut Pro, like everyone else?" you might ask.
Well, we shot our film in full resolution (4K) RED. Final Cut hasn't addressed the format as well as Adobe, so I'm going with Premiere. Premiere is simply at the forefront of editing native RED footage.
The new version of Final Cut Pro released last week touts the ability to edit RED better than it's previous version, but FCP still forces you to wrap the .r3d file in a Quicktime wrapper, thus you aren't really accessing the RED files natively (you have to go through that workaround).
The RED plug-in for Adobe Premiere is just the best way to go in my book.
So much of post is done in After Affects (no matter what platform you're on and what software you're using), and the integration and flow of Premiere and After Affects is superior (vs. FCP or AVID) to say the least.
Yes, there are issues with editing in Premiere (not the least of which is Adobe's apparent REFUSAL to address syncing and linking audio and video files --more on that later). But each leading platform (FCP and AVID being the two others), have their issues as well.
Other than sound, the biggest problem with Premiere (and it's admittedly a big one), as that it's a youngster in the field. Pretty much anybody who's been doing anything with film on a serious, professional level, has been using either AVID or Final Cut Pro. Thus, the knowledge base for Avid and FCP is much more vast. Finding answers for your problems with Premiere takes a lot of work. Hopefully my posts on the topic can help people find the same answers I was looking for a little quicker (a couple issues we had took weeks to find an answer to --some of the problems we still haven't found answers to, which leads me to believe that there might not be answers yet).
Bottom line, you're going to have problems (big or small) with any program you go with, so you just need to make sure you're doing what's best for you and your particular project.
Next up, the build (what I learned from researching for weeks before putting together a computer for the specific purpose of video editing).