If you plan on saving the movies to the harddrive as well as disc,you really need a bigger harddrive.
I would suggest adding an external drive of around 300GB upwards for the movies.
Your graphics is pretty basic as most laptops are.
Ram is good.
CPU is good
I have the inspiron 6400 core duo and been very impressed with the results.I only really burn and edit camcorder movies and burn a few cd's now and again.
But if you expect high end results with the graphics,you maybe a little disappointed.
Remember you will get a lot more for your money with a desktop,this will enable you to have a good graphics card that will be upgradeable if needed.
Upgrading a laptop is very restricted.