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Actually I kind of consider myself lucky how things turned out with Premiere and the whole Adobe suite. Up until CS5 when the intergration was matched with true 64 bit, Premiere was good but not that mutch of a contender compared to some other NLE’s. The dynamic link between the software in the Adobe suite is where the real power of the suite comes from and that wasn’t really worth two shakes of a cats tail till the power of 64 bit, 16 gig’s of RAM and a smoking CPU that is so fast it seems illegal.
For me AE is the the center of the suite, Premiere is what I use to import and kind of just manage the video file from, more like a pallet for paint. I color correct in AE, all my effects, unless its a simple cross fade I’m linking to AE or Soundbooth. I haven’t even used the titler in PP in so long I can’t remember but that could be more from the horrible chance of flashbacks from “Title Decko”, shutter!
To be completely honest, if AE wasn’t in the suite…I’d probly be a FCP guy.