eedcam is absolutely correct. I wouldn't consider a hard drive below 500Gb and even that is on the small size. You need to consider back up of the video too. Personally I don't think that the Acer is suitable. Much prefer a quad core desktop for this purpose.
Unless you want to spend around a grand on a laptop I'd forget about using one for video processing. You can do it but you'd have to leave it running overnight to do one file. Video processing is all about number crunching which means a fast CPU and laptops don't have them.
I believe there's a difference between what you need, and what is optimum, when you're talking about processor: I (and presumably, many others) used Pinnacle and other similar video editors to process our raw footage when a 600MHz Athlon was state-of-the-art. Downloading, playback and editing were fine, but it took me up to 8 hours to render about half an hour's worth. I haven't done any editing for a while, but I presume my present PC will do everything the same, except that the rendering time will be significantly reduced.
As for HDD size, my raw .avi files are about 12GB for one hour, but individual files need to be kept below 4GB if your HDD isn't in NTFS format. The rendered MPEG files, obviously, are much smaller because they can be burned onto a DVD. So, given the price and availability of HDDs these days, 500GB would be a nice size to have, and would give plenty of space for any temporary files the software might make. But, depending on how many videos you have, you could get away with much less space.
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