Unfortunately, I don't have the room to export a raw avi routinely, so I put a codec on my vids straight out of Premiere. The only time I make a raw avi is if I'm going ot show a vid at a con -- and with a 40Gig hard drive, it's a squeeze.

As a result, I was wondering if I could put a watermark on the vid without starting with a raw avi, or without putting a codec on it twice if I can't start with a raw avi. Upon reflection, I don't think it'd be possible. :-P