That's right--I haven't even tried the warp stabilizer, but there are third party plugins if you need them. That's a good new feature. I don't see any big speed improvements. I'm happy with 6, but I'm disappointed that the differences are small. The color correction is somewhat improved if you want to dive into the three way color corrector.
I use the warp stabilization in After Effects CS5.5. It does a great job of stabilizing video. It's not available in earlier versions. I also understand that it is also available in Premiere CS6. The problem is that these programs are very expensive. However, you can download a 30 day trial that is fully operational - long enough to process your video. You can find out about Adobe Warp Stabilization at the following link: -pro/using/stabilize-motion-warp-stabilizer-effect.html I would recommend you download Premiere 6.0 or Premiere CC trial rather than After Effects because you are already familiar with Premiere Elements. After Effects has a pretty steep learning curve.
Try using the warp stabilizer effect and see how well it handles it.It would automatically attempt to stabilize the footage (and rolling shutter).This is probably the easiest thing to try first before doing manual frame by frame tracking.
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