For that kind of editing (just a series of live video clips) Premiere is all you need.
After Effects is more useful for adding titling and compositing in other digital elements and creating them as clips that can then be edited together in Premiere. AE is used a lot in TV to create the bumper clips you see for news, sports, and to promote up coming shows and stuff.
AE is most useful for stuff like this....
Transforming Logo with ShapeShifter Preview - YouTube
Then you take that clip and edit it into a larger project using Premiere.
"If I have seen further it is by standing on the shoulders of giants." Sir Isaac Newton, 1675
Last edited by ctbram; 15-02-2012 at 01:54 AM.