I’ve never had a problem rendering something from ULEAD VideoStudio 11.5 and dropping it into PCS3.
So thell me this, if you see/hear an audio line sound in the ULEAD product before creating a file, AND you hear an audio line in the finished file, the ULEAD program must be OK. If you don’t get audio out from the ULEAD product then it is a setting in the ULEAD product. I render in 11.5 from SHARE>CREATE VIDEO FILE>DVD/VCD/SVCD/MPEG>and then I usually choose NTSC DVD 16:9.
When I drop that into a timeline in PP CS3, I see and hear audio. If you see an audio line at this point, but don’t hear an audio line, then I would agree you have a codec problem and you should try a player OTHER THAN the default Windows media player.
If you don’t hear, but you see, an audio line in PP, I’d render a short section to see if PP restores the files to something your player can work with.
