Preview Disabled

[lisam]

I'm using Powerbook G4, Tiger 10.4.2, FCP 5.0.2

I am trying to download my video footage through log and capture "capture now". I can control the video camera (Sony PC 110 & Sony VX2000) through my computer but in the preview portion it says "Preview Disabled".
This has happened to me twice now.
The first time I ended up completely reinstalling my entire hard drive, which is so time consuming. I initially tried to reinstall FCP but nothing changed.
I cannot reinstall my hard drive again as I have a deadline on this film I'm editing.
Is this a bug in the new FCP or is there some configuration I'm missing? I have used this for years and have never had this problem until upgrading to 5.
This is so frustrating. It isn't any of the audio/visual settings because nothing has changed since the last time i used it. I did however do the recent security updates, etc on my mac.

HELP!!