I use CS6, but iirc the sequence settings are similar if not the same.
Here is what I would use:
- I am not sure if it's called "Custom" for the Editing Mode in CS4, but basically you want to set your own settings and don't go with any preset.
- You want Square Pixels for your PAR. 848 x 480. Widescreen right?
- Yup, No Fields, Progressive Scan.
- Audio Sample Rate should match what your audio source is.
- You might wanna play with your Video Preview settings. I usually use Microsoft AVI as the preview File Format and Microsoft RLE as the preview codec. You can use whatever you want. Make sure your previews are also set at 848 x 480. No need to have Maximum Bit Depth or Maximum Render Quality checked. I mean, it's just previews, don't really need the best quality for that.