Editing HD footage on laptop.best specs?


Question:
I want to begin editing HD on my laptop but cant afford to buy a new one so want to simply upgrade my existing machine. I wish to create 30-60minute short films using Avid Xpress or Premiere and need advice on the following...

Should / can I upgrade?

Here are my existing specs:

Model: E-Machine M5100
Maximum Memory Capacity: 1024MB
Currently Installed Memory: 544 MB
Available Memory Slots: -2
Number of Banks: 1
Dual Channel Support: No
CPU Manufacturer: GenuineIntel
CPU Family: Mobile Intel(R) Celeron(R) CPU 2.40GHz Model 2, Stepping 9
CPU Speed: 2392 MHz
Firewire: Texas Instruments OHCI Compliant IEEE 1394 Host controller
Display: Intel 82852/82855 GM/GME Graphics controller

Questions Im interested in are.
What RAM should I aim for?
If I can, should I change my processor / CPU speed?
Will my firewire card do?
Should I get a specific video/graphics card?
Or (this being my least favourite option) should I opt for a new laptop?

Answer:
Yes, you'll need a new machine for this job and a lot of available disk storage. For 60mins of HD, you'll need at least 200GB of hard disk space. Mac is one way to go but you'll still need at least 2G RAM model. I don't think you can upgrade your processor to make any different in your case. P4 and Celeron is not interchangeable. Just go for a new laptop. If you are thinking about a Mac laptop, you'll need the MacBook PRO. MacBook build-in graphics card will not work with HD.
Buy a new one (Mac if its possible ) You need at least 2Gb of memory a external Hard Dr 7800 RPM with Firewire 800
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