I don't think that Premier does really take advantage of video cards. I saw a video where they had switched a really old GTX 660 vs a 1080ti and the render time was not changed between them.
I did a bench of the Premiere Pro h264 benchmark ("PPBM") with CUDA acceleration and without (software): the difference was 7m 4sec without GPU and 48 seconds with GPU.
Sorry, I should have phrased it better, you don't have to have the latest and greatest video card for Premiere. But, yes, you are correct, having GPU acceleration does work.
It's possible the operation bandwidth limited in which case at some point a faster card won't speed it up any more. But gpu acceleration vs software is an enormous difference in premiere
In our workload this is definitely the case. When on the GPU the processing is almost infinitely quick. It's the transfer to and from the GPU memory which takes the time. This might be the case in the parent post.
There was a guy who managed to go directly from the SATA controller to GPU memory by modifying the Linux kernel for some postgres database queries and got massive speedup. Would love it if that sort of optimization could be more readily available.