Mercury Accelsior for Premiere

I have the Mac Pro 4,1 and Just ordered the Accelsior 480. I was thinking that the Accelsior would be my "RAID" I'm new to Premier (FCP User) but I think Premiere's Mercury system "Conforms" the original media. (In my case XDCamEX) so no more need to "log and transfer:

So to get the performance (while minimizing memory space) could I keep the EX media source on regular HDDs and tell premiere to send the Preview and Renders to the Accelsior thus achieving greater performance? Or do I need to keep the media files on the Accelsior as well?

Is Premiere accessing those EX source files once it has been brought in and conformed?

Hey thanks for the reply, I just noticed that when I import my shots into a Premiere project there is definitely something happening (a process occurs) where in FCP the link is more "direct". (Of course in FCP I have to perform a "Log & Transfer") So with the limited size of the Accelsior I will need pull the projects off once completed.