Will the new premiere pro edit and save changes to avchd losslessly?

Hi,
I want to buy a new premiere elements to replace my old one (vrsn 3), can I upgrade it still or is it too old? Or should I still stick to Premiere elements?
Also, will the new premiere pro edit and save changes to avchd files from Panasonic and Canon without losing any quality?
I came across 'provides native support for avchd'; what does it mean? Does it mean that I can edit and save avchd files with out losing quality?
Thanks,
H

For your several questions...
One... download and try the 30-day free trials
Two... read in the user guides
CS5 User Guides - online and PDF (see link in upper right corner at individual pages)
http://blogs.adobe.com/premiereprotraining/2010/08/help-documents-for-creative-suite-5-pdf -and-html.html
http://help.adobe.com/en_US/PremiereElements/8.0/Win/Using/index.html
P-Elements 9 http://help.adobe.com/en_US/premiereelements/using/index.html

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