Is Premiere able to "capture" tapeless footage/P2 (log and transfer)?

Hi! Does anyone know if Premiere Pro CS5 is able to "capture" my P2 files from my Panasonic, without a need to transfer all the raw P2 material from the card to my hard drive? So the thing is, I don't want to edit my P2 footage as they're, but to convert them to either mov, or mp4. PLUS I want to be able to trim and rename my newmade files.
So basically I just need a log and transfer (Finalcut) kind of feature for Premiere.
Now I'll explain you why.
1. Let's say we had a filming where we were to shoot continuously two hours shot. So I have only one clip. About 60GB.
2.I personally need only five seconds of those two hours.
That should be enough reason. I hope you understood my point of view. Please don't ask me how this happened...
Plus more reasons: In our company we need to have all the footage and materials converted as .mov, wmv or mp4  for storaging and documenting everything.
This should be quite a simple problem but,... they always are. If there's no easy solution with Premiere, I hope you can point me a simple, easy program to do this. And working. (Otherwise we have to get some more Finalcuts, log and transfer, and then import our files in Premiere... Quite a hard way to do it)
Thank you
Timo Kankkunen

@native-lovers:
You guys didn't seem to understand that we need to have all the footage storaged as something else than P2-files. Dot.
@shooternz:
Hey thanks for that P2Forge link. That's quite useful. At least it's able to play the video (unlike AME). Plus that it should be able to trim the videos (though I haven't got it working yet). So maybe that'll solve my problems.
@joshtownsend:
Well, maybe I should give Premiere a second change, but I doupt the workflow is going to be quite a slow when having dozens of clips. Would it be something like this?
Premiere + AME workflow:
1. Double click the video from media browser to show it in source window
2. space to play, i to in and o to out.
3. drag to timeline
4. some shortcut to export?
5. paste filename with ending 001 and change the number when needed (I guess Premiere doesn't do it automatically does it?)
(5.5 The first time choose the right preset and output folder.)
6. some shortcut to export with AME (or just clicking the button)
And back to the number one... (AME running on the background)
Has anyone ideas to fasten this up? Like some magical way to jump over numbers 3, 4? And have the automatical numbering?
(Sorry I don't have Premiere with me right now so this came out of my memory).
Maybe that wouldn't be too bad after all (having all the shortcuts...).

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