The simple answer is that Dynamic Link was created to allow After Effects comps to be brought over to Premiere Pro without exporting it first. But, as you know, Dynamic Link is only available if you have the Production Studio or Master Collection.
So, no, without the entire package, you must export from AE.
However, if you are working with DV AVI files in Premiere Pro, and you export from After Effects to DV AVI, and you are then exporting from Premiere Pro to DV AVI, you will not have to rerender, and you will not lose any generational quality.
Steven
http://www.stevengotz.com
