Yes Premiere Pro by Adobe is good for advanced video editing, also they offer a broken down variation of PP called Essentials which is great for Youtube or converting to iPod etc.
I currently use an older version of Cyberlink's Power Directer which is very good with plenty of help from the net...
My first computer was an ACER T630. It was a single core Intel P4 @ 2.9Ghz with 512mb of DDR2 memory, 80GB 5400rpm Hitachi drive and DVD read only drive. The monitor was standard at 1024x768.
The motherboard died at about 36 weeks and I regret not hanging onto the case for a custom build but not...