PS1 footage and Premier Pro 5.5

The GMan

Loving YTtalk
I wanted to do some recording from my PS3 of Metal Gear Solid for the PS1. I currently use the Hauppauge HD PVR Gaming Edition for my console recording. How ever I've come across a problem with using the raw footage in Premier Pro 5.5 (PP5.5). The raw footage recorded fine no problem but when I come to edit it the video footage seems to bounce rather quickly in PP5.5. Does PP5.5 have issues with running M2TS files? It kind of annoying as I've got over an hour of footage that I can't edit with my audio as the video jumps.

Just wondered if anyone else has come across this problem.
 
Give more detail on the jumps. Often times the "preview" window will lag behind and jump a bit because it's rendering in real time. I never pre-render any of it anymore, but there is an option to do that in Premiere.
 
The only better description I can give is that is looks like its shaking up and down. Even after rendering it still does it.
 
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