I have a Canon MV530i which is, I believe, an earlier model to yours. I have no problem hooking this up to my non-digital TV and playing the tapes.
As to the second question, I am not sure. Video-editing uses a considerable amount of resources and the resulting files can be huge (particularly avi files which can be as big as 1GB for about 4 mins of video!). My experience of video-editing is that you need considerable patience and a fair amount of time, but I have only just started dabbling in it.
When I get home tonight (if nobody has posted any before then!), I'll have a look for some useful links to point you in the right direction.
In the meantime here's one to get you started click here