So I hadn’t tried the updated Premiere Pro, 5.5.1, which I was hoping had fixed my CUDA issues, but instead it has made them worse. I had to update my CUDA driver to 4.0.50 with Lion GPU Driver 7.4.10 2.70.05.05f01, and that allowed Premiere Pro to boot, and the program runs, but unfortunately without CUDA support. My Geforce GTX 285 is supported, but does not work with CUDA Support.
I have reported this to Adobe and to NVIDIA, but have not heard anything back as of yet.
I did a complete Adobe uninstall and re-installed and I have CUDA support back. So something just wasn’t happy. Have to check on my plug ins now, but at least it is working correctly.