Premiere 6.x has a "Capture Limit" in seconds under Project | Settings
| Capture (and a check box to enable it). When I tried it, it blew by
the setting. The only thing I've seen about this on line was a
question like this one by another befuddled user, who received no
replies. Anyone since then tried it and gotten it to work/failed?

I notice that Pro 1.5 does not include such a feature, at least not on
the comparable settings page.