editing software

Start downloading demos and decide for yourself.

Check out Sony Vegas for starters. I use it and love it.
 
I second the premiere pro suggestion. I run it on my 3.3 ghz p4 with 1 gig of ram laptop and it works great.
 
I'm a big Vegas advocate. Works really well with systems with lower resources (incredible with systems with higher resources), the price is nice, and it is great for 24p footage.

Go read through the various NLE threads and post specific questions there regarding the systems and from there download demos and see which works best for you.
 
I use Edius Pro, & Premiere Pro, Edius is fast, Prempro is demanding on resources but the pro version has great professional tools that you can tweek almost like after effects. Your problem with vegas is that, you might find very few high end facilities and post houses that can integrate your project files. So unless youre doing high end video, well, vegas might just be what you need, yah, they are right, its less demanding on resources. But you should futureproof your investment, not just in software and hardware but your investment in your TIME learning them. Right now very few hardware vendors for editing support vegas.
 
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