Would this be ok to Edit Video on?

[TheMagicPirate]

Looking to buy a PC with this spec.

2.8GHz Intel Pentium D 920,
1GB PC4300 DDR2 RAM,
Intel 945 custom motherboard,
250GB Seagate Barracuda 7800.8 hard disk,
Matshita UJ-846D DVD writer,
128MB nVidia GeForce 6600 graphics,

AVerMedia AverTV Hybrid+FM PCI tuner card
Intel HD 7.1 audio,
V.92 modem,
Marvell Libertas 802.11b/g WLAN,
Adobe Premiere Elements 2,
Adobe Photoshop Elements 4
Windows XP Media Center Edition 2005.

Also, for £1000 is this a bit of a rip off?

The Sony Viao VGX-XL100

Thanks for the help.