First, Premiere is as good or better than FCP or Avid. It does get a bum rap. I have cut on all three and all have strengths and weaknesses. Avid is trying to change. Since Avid did away with the Xpress Pro HD, Media Composer is the entry level editing software. It's twice the cost of Xpress. So, money does come to play. Avid has been loosing some of the market share to FCP and PP. Why? FCP and PP have third-party support. And offer a better suite solution. Will PP move up the ladder? With HD around the corner, more hardware is required to play HD. Avid isn't so friendly in this part. I think the jump up with hardware with MC is $10k or so. FCP and PP with third-party hardware can be bought for around $2k. Drives and computer not included. As you mention, Avid is very picky in which computers and hardware it will work. Premiere is more friendly in that manner. If you use other Adobe products, PP has a big advantage. For news editing, you only touch the surface with Avid, FCP, and PP. Can it move up and replace Avid? With the new upgrades that allow PP to edit DVCPro HD and XDCam HD, you could see PP be the choice over Avid. In fact, that is what I am doing. I am returning to PP. The cost of the suite offers a better workflow than Avid. I do production, so I use the Adobe family often. The cost of hardware to playback HD is as low as $350 bucks. I have decided to go with the $1k card. Still way below the price of Avid MC. To be honest, all the these editing softwares are an overkill for editing news. Unfortunately, no one makes a simple Professional editing software for news.