I just borrowed a P3 Advanced and brought the videos into Adobe Premiere Pro 2.0.  The playback of the video inside Premiere is extremely choppy and pretty much impossible to preview to select In and Out points.  Even a few minute video said it was going to take 7hrs to render and that's not even editing it, only from just hitting the enter key.

This seems extreme.  I don't think it's my computer.

Windows 7 Home Premium (64bit)
i5 3.2Ghz Processor
8GB RAM
2GB NVidia GeForce GT640 Graphics Card

This should be plenty fast enough to edit a 1080p @ 60fps.

When I started a new project in PPro, I selected 1080i @ 30fps Preset as this is the highest resolution Preset Premiere Pro 2.0 has available.

Do you think it's taking so long to render because it's having to convert the video from 60fps down to 30fps or is there something else that is slowing it down?

Firstly, an i5 is not particularly fast, and you are doing a lot of conversion there, you are converting from Progressive frames to Interlaced and interpolating 60 fps to 30 fps, all of which is very taxing.

I think you need to get a newer copy of PP, as it would be better to render the result in 1080p at 60 fps, or as it was shot. These days there is little need for interlaced footage.

Geebax Posted at 2016-5-14 00:09
Firstly, an i5 is not particularly fast, and you are doing a lot of conversion there, you are conver ...

Thanks, the issue was having an old version of PP.  I'm now using the free version of DaVinci Resolve and it works flawlessly!

Mike I tried to use DaVinci last year on my i7 Samsung PC and could not get it to work. Please advise the link you used to download. Thanks in advance...Michael

Without knowing the size of the video out of the P3, it's hard to answer this question.  As noted above, you're using a lot less "computer" than you really want when it comes to working with video.    Render times with only 8 GB and a fairly slow processor are going to really limit you.  

I'm currently rendering a 3.9 GB video I shot yesterday.  Currently using Premiere Elements 13.  Rendering it AVCHD MP4 H264 1920 X 1080p with bitrates of target 20 & max 24.Machine running 48 GB RAM, 24 processor cores and an NVIDIA - GeForce GTX 970 4GB GDDR5 video card.

I expect it to take just short of 2 hours on this machine.  On your machine under the same conditions and settings, for the same video - you can expect 10-12 hours to render.  You simply don't have enough horsepower.

BTW - "choppy playback" is a hint that your video card doesn't have the power/ram you need - for your machine specs.

See attached Task Manager Performance screen shot.

You will need much more horsepower to render your video.  I had the same issue with 8 GB ram and a relatively slow video card.  What you will need is more ram, more processing cores, and a video card with thousands of GPU processors.  I ended up buying a new machine from Puget Systems that makes rendering video a lot less painful.  What was taking an hour to render is now taking just a few minutes.
Also, I use Premiere Pro CC 2015 which offers great features but does set you back $20 a month.  Also, SSD for operating system and separate SSD for scratch files helps.

I can work Phantom 3 1080p in Premiere Pro perfectly on my PC, but on 4K recordings, NO luck. I've research almost everywhere and decided to downscale Phantom 3 4K to 1080p for smoothing in Premiere Pro.