What's new in Premiere Pro CC release version 7.2.1

*Intermittent Buzzing could occur on audio playback where audio transitions were present
*Reveal in project sometimes did not work in imported sequence when clips were present in the project
*Premiere Pro could occasionally crash on playback of certain multi cam assets
*Using matte cleanup tools in Ultra keyer could sometimes cause the top half of the image to disappear when paused in Open CL mode
*Autosave could sometimes interrupt playback.
*The AMD Radeon R9 290 Series has been added to the OpenCL supported card list
*Inserting a merged clip with in/out points via menu or command would insert the entire merged clip, not the in/out range
*Playing with preroll could sometime crash Premiere Pro
*When editing in Anywhere mode, adding synthetics would sometimes show a 10 digit number under the progress panel’s Name column

What's new in Premiere Pro CC release version 7.2.0

*Voice-over recording directly in the Timeline has been enhanced. 
--A pre-roll overlay in the Program Monitor counting down to the time when recording will start
--The ability to pre-roll before the sequence start time
--A new dedicated voice-over record button which can be added to the Audio Track header, and includes pre-roll functionality
--A red record status indicator in the Program Monitor when recording is taking place, including a count-out to the end of a recording when an Out Point has been set
*Multiple Media Browser panels can be open at once for browsing multiple projects or locations simultaneously
*Clip selection overrides track targeting for multiple editing commands (such as Match Frame, Mark Clip, Lift/Extract, Add Edit, etc.)
*Single camera multi-cam only shows single camera in the Source and Program Monitors
*A sequence can be created by dragging media to an empty Timeline panel
*The Ripple Delete command can be used with an In/Out range set in a sequence
*Mercury Transmit can output a Dolby E stream for external hardware decoding
*AVCi100 .mov files can be smart-rendered to MXF-wrapped AVCi100
*OpenCL performance has been improved
*The active source clip name is shown on multi-cam clips used in a sequence
*With a sequence or sequences selected in the Project Panel, a new project can be created from just those sequences by using File > Export > Selection as Premiere Pro project
*Markers can be exported from any asset or sequence to a document, as a .csv or .html file with thumbnails
*Clip markers can be added to selected clips in the timeline without needing to load them into the Source Monitor
*Multicam sequences can be created with a custom preset for switched audio
*Playback performance with XAVC 60p 4K media using Matrox hardware has been improved
*OP1a formats can be used for preview renders
*Improved AVC-Ultra support
*OMF export improvements, especially when working with adaptive audio tracks

* Detailed infomation :  
http://blogs.adobe.com/premierepro/2013/12/premiere-pro-cc-update-7-2-1.html

System requirements

- Intel® Core™2 Duo or AMD Phenom® II processor; 64-bit support required
- Microsoft® Windows® 7 with Service Pack 1 (64 bit) or Windows 8 (64 bit)
- 4GB of RAM (8GB recommended)
- 4GB of available hard-disk space for installation; additional free space required during installation (cannot install on removable flash storage devices)
- Additional disk space required for preview files and other working files (10GB recommended)
- 1280x800 display
- 7200 RPM or faster hard drive (multiple fast disk drives, preferably RAID 0 configured, recommended)
- Sound card compatible with ASIO protocol or Microsoft Windows Driver Model
- QuickTime 7.6.6 software required for QuickTime features
- Optional: Adobe-certified GPU card for GPU-accelerated performance
- Internet connection and registration are necessary for required software activation, membership validation, and access to online services.

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Homepage :  
http://www.adobe.com/products/premiere.html