Adobe Premiere Elements & Premiere Pro 2.0

I'm looking for some general support and feedback in these 2 apps. I have both but I'm still getting to know Premiere Pro 2.0 so in the meentime, I'd like to make use of Premiere Elements 2.0 and soon 3.0.

To start out, can I start crewating projects and later move them over to the Pro version once I get to know it better?

For now, I am not importing from any kind of camera. I am mainly importing Classic LaserDisc movies and unreleased VHS for my own use. I have for capturing a Pinnacle 710USB w/ S-Video and Compossit in & Firewire, but no firewire out to PC, only USB. I know Premiere Pro preffers capture via firewire but can I import via USB? Premiere Pro also doesn't like MPEG2 for editing so what type should I be capturing for both Elements & Pro?