I don't understand what you are doing with the aspect ratio... If all of your source video is 4x3 and you are making a 4x3 videl, everything should be OK.
Don't confuse the aspect ratio with the pixel ratio.* If you use Video Studio to make a DVD, Video Studio will convert it to 720x480 if necessary, and it will add/remove pixels and re-shape the pixels as required to keep the correct aspect ratio. Of course, you will loose some image quality in the process. (I assume that your other software will do the same thing.)
I need to get it down the highest quality file (no compression) possible.
MPEG is lossy compression. Data is thrown-away during the compresion process. When you re-code the MPEG, it has to be decompressed and then re-compressed... a 2nd lossy compression step. To mimimize the quality loss, use a high bitrate. (There should be no noticeable quality loss when converting from MPEG to DV, except if you change the pixel resolution/ratio.)
Higher bitrate = higher quality = bigger file size = lower compression = less playing time.
Lower bitrate = lower quality = smaller file size = higher compression = more playing time.
I can not bring it right into premiere because the audio gets out of sync (premiere pro and elements does not like mpeg video. I have no sync issues in VS10.
Interesting!!! This seems to be very random... I've sometimes had the same problems with Ulead. (See my signature/tagline below?

) At least one person reported solving his "lip-sync" problems by switching
to Premere Elements. I bought a special-purpose MPEG editor.
* Note that 4x3 and 16x9 (NTSC) DVDs both use 720x480 pixels. Both formats have the same resolution, but the pixels are different shapes. Still images use square pixels, and a 720x480 still image is neither 4x3 or 16x9!