The LCD Screen is an accessory that is supposed to replace the back door/battery, but has not been released yet. It would come in hand for aiming, and a quick playback check to see if you have the camera aligned correctly and that it's actually ON.
On another subject: If you have had your life insurance for 2-3 years and THEN start skydiving, they can't cancel it. I started jumping long before trying to get life insurance, and you are correct it's near impossible. However, I qualify for VGLI and they don't have a hazardous sports or war clause.
I still have editing issues and probably will until i get a WIN7 Machine. I'm not very astute with Premier Elements.