The HDR HC 1 is not that complicated once you get to learn it .
Experimenting with changing the output options from auto to DV or HDV and enabling i- link on / off will get you there eventually .
I've captured HDV with it from Vegas, Avid Liquid 7 , Pinnacle Studio 10.5 and Ulead MS 10.
I am not sure of Adobe Premiere pro 2 though. I haven't used Premiere since 1.5 Jaymac may well have the solution.
In Vegas, when you select capture video, the capture utility asks if you wish to capture DV or HDV ( both via firewire) then loads the appropriate capture driver based on your selection
I hope you find a workabout , BTW why not try capturing down converted SD first to see if the promise of DV capture works?!
As an aside, If you find the HC1 bewildering , I suspect Premiere may be just as unfriendly especially if you've never done any editing before.

Starting with HDV editing on top of that sounds challenging ( to me) but may prove straightforward for you especially if your kit is top grade and you pick things up fast ( Im a bit on the slow side... my kids ( and their mother) tell me

)
Fortunately though it has a large enough user base to find help fairly easily although it doesn't seem to come up much for mention in these Forums
HDV split is a free HDV capture utility you may find handy regardless of you current dilemma with Premiere and the HC1. It works without any fuss ( and has the advantage of capturing and splitting the file for ease of editing