You can download for free for personal use the Enosoft DV Processor. It's $129 for commercial use.
http://www.enosoft.net/
Some of the features are:
Monitor Your Recordings In The Field
Real-Time Video and Audio Processing - During or After Recording
Synchronized MultiCam Recording
Device-To-Device Processing - No Need To Capture To Disk First
Just-In-Time Output
There's a tutorial on the web site for adjusting white balance.
The procamp has a vectorscope and waveform monitor, but they are somewhat small and hard to read.
I couldn't use DV-AVI files captured by Premiere Elements as input -- only the first 6 seconds of each file would play. However DV-AVI files captured by Enosoft could be used as input.
Some of the other things that it has are scene detection, timecode embedding, logo insertion, text overlays, aspect ratio conversion, audio proc amp, video proc amp, timelapse and time delay.