Hi Martin,
No you have not wasted your money. I am having exactly the same problem. First what type of file are you using?
I have been having a lot of trouble importing Windows Media generated files of the type *.dvr-ms and typically from 100MB to 8GB in size
I purchased this week a new TV/Capture card for my ASUS Notebook computer and haven't had PD7 crash once when importing files generated through AVER MEDIA centre and the new Aver Media Express TV/Capture card
This set up, generates a *.mpg video file which imports into PD7 very quickly and without PD7 needing to convert the file.
Then I found that by re -enabling the Rich Video options in the Preferences menu item, the "hanging" and "waiting for a response" problem vanished. !!
I now have spent hours using the many features in PD7 to produce and burn some excellant videos onto DVD's.
Why had I disabled the Rich Video options? I read somewhere in this forum that by disabling them I might be able to import the files I was having problems with. IN this case that was not a good thing for me to do.
So, see if you can import files of the type *.mpg and whether those files upset your PD7 operations. It might help you to see a way forward and there will be a way forward just persevere, and don't let the computer beat you!!
Cheers
John

Other folks have reported that placing videos to be imported into a folder and then importing the folder works well.

This is the method I use because it's how I prefer to manage files vs. subject on my PC.

Regards,

Mark H.