Dropped Frame frustration!

I'm trying to cut 720p footage but it still drops frames when playing unrendered despite the fact that I think my system should be smoking this:

AMD Quad Processor
4GB RAM
PNY FX1500 graphics card
XP 64
ESATA 320gb HD (for source footage)
+3 other drives

What am I missing here?

Thanks
 
I'm aware of that, but it seems to me that if they weren't working out together that it would manifest itself in a more extreme way than to be just a little bit out?
 
AMD isn't the best bet when working with premiere....there is a long history of incompatibility and you'll be better off if you switch to an Intel processor....keep the AMD and, well, all I can say is the two go together about as good as Ike and Tina
 
Dropping frames is kind of extreme in my book.

Anyway it may be something else.

Whats the source footage and whats the project setting?
What HDdrive is the source material on? ie internal/external
What else is running on the system as you edit?
 
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