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Can't help with the PC5E question, but NLE stands for "non linear editing". A throwback phrase to differentiate from "linear editing".
Linear editing is basically when you used 2 VCR's to perform your editing, maybe with an effects processor between the two. The "source" VCR was set to "play" and the "target" VCR would then use the Record/pause controls to trim clips and perhaps insert cross-fades between. NLE means that all of the clips can be loaded (usually onto a PC, but in expensive setups a dedicated controller could be used to mark the "in" and "out" points from the source VCR). The clips are then written to the target VCR in a predetermined order, not necessarily in the order in which they occur on the source tape.
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