Originally posted by: mechBgon
How good is the Adobe compression? Is it reasonably competitive with the really good stuff?
I think you can download a free trialware of Premiere Elements and get a firsthand look

You can apply video and audio filters, which could be helpful if you need to even out the volume between people with mics and people without, and there's a de-noiser filter, and if your camcorder's motor is audible on the recording, try the notch filter. Break up the clip into sections and then drag-&-drop the desired filters onto the sections that need them.
Adobe PE takes some getting used to, it isn't the fastest either, but it has a good array of options and is fairly stable.