Minimum requirements? You can edit video with Vegas on a 400MHz P3 with 128MB RAM, 40GB drive, and a 4MB video card. True, you may not enjoy it, but you'll get your work done.

Almost all of the rendering speed comes from the processor. Get the fastest processor you can afford. A dual processor won't help rendering speed much, but it will allow you do do other tasks at full speed while rendering. Some have tried using network rendering with two processors in the same computer and reported some increase in speed. It may or may not be worth the extra effort and expense.

Video card: who cares? Does it have enough memory to display your desired screen resolution at 24 bit color? If you like 1280x1024 then you only need 4MB. Probably the only feature beyond this that will help is a dual head card so you can connect two monitors and have a larger desktop. Even a dual head 1600x1200 x2 will only need 16MB of RAM.

You'll want at least two hard drives: a boot drive holding the operating system and software, and a data drive holding the video files. The boot drive doesn't need to be very large. I recommend 4 drives. I use the boot drive for the OS and software, the 2nd drive (relatively small also) for all my non-video related data files, and the 3rd & 4th drives (quite large) for video & audio files. When i have a project finished on one of these drives i'll copy it's directory to the other drive and delete the original directory. This keeps housekeeping neat and simple, and keeps the files mostly defragmented *MUCH* faster than running a defragmenting program.

I agree with avoiding Dell. They have a history of using limited parts that don't offer the full functionality you might expect. For example, they may include restricted firewire ports that only work with the included capture software. Ask Grazie and he'll give you an earful!

If you feel at all hardware competent, buy generic parts and put the computer together yourself. It only takes about half an hour and is cheaper than buying a name brand PC. Install plain vanilla Windows XP from a Microsoft disc and you'll avoid all the useless "extras" that most PC manufacturers install for you. This will give you a fast, stable, repairable, and upgradable system at minimal cost. And you can feel a sense of accomplishment for having done it yourself!

Thanks for all your help!
I like the alienware look alot, Its more expensive, but (don't laugh) the machine I am running now is a p2 450 with 128 megs of ram... it works for graphics, but it definately has taught me a thing or two about patience and doing it right the first time! So I figure the alienware (or other high-end system) is like a treat for all my suffering... I realize I could build my own machine, but I'd rather have tech support that could hopefully get me back online rather than me and a hammer... :)
I am going to be running a duel head video card for sure!

Thanks!

If you don't want to spend the time building your own machine, I suggest going with a vendor like Monarch Computers. Monarch charges you very reasonable street prices for parts plus a $50 build fee. I have zero experience with Monarch, but they have a very good resellerratings.com rating.

If you want to spend more money, I'd look at a turnkey vendor instead of Alienware. Turnkey vendors should solve configuration issues for you as well as providing better support. For Vegas however you don't need this. Few video users here report configuration problems or major problems with their system's configuration.

Alienware: They're expensive/overpriced but the computers look nice.

Dell: bad support (see resellerratings.com), bad prices for highend stuff (many upgrades are 2X street prices).

Things to look for in a computer:
Fast processor (this is usually the bottleneck for render speeds) Canterwood and Prescott core Pentiums seem to be the best bet right now.

Lots of hard drive space. The extra space will come in handy for temporary archival. Getting multiple drives (for splitting the OS, page file, etc. etc.) doesn't help performance significantly.

RAM- With Vegas, you can get away with very little (unlike some other NLEs).

Motherboard- Nothing significant to worry about here. Onboard firewire is nice. Gigabit ethernet may be nice in the future. The Abit IS7 is a really good bang for the buck motherboard (has firewire, no gigabit ethernet).

Video card- Look for dual monitor support. Nvidia cards have better drivers than ATI.

Mouse- This is personal taste, but you might like the "5-button" Microsoft Intellimouse. The extra buttons shuffle forward/backwards in Vegas.

Case: If you were assembling your computer, get a nice one like the Antec 3700AMB/BQE since they're easy to work with.

Power supply: The cheap ones can give you problems as their wattage ratings are a lie. Go for a quality PSU... fortron, sparkle are good if you are buying one. The aforementioned Antec cases come with a PSU.

Sound card: If sound quality is important, get something like a M-audio Revolution or an external USB/firewire device. Avoid Creative.

DVD burner: Get one if you need one. NEC's ND-2510A is a good choice.

Monitors: Get what you want and can afford. The NEC FE991SB, Viewsonic P95f+, and Samsung 900NF are all excellent choices for 19" CRTs. LCDs are better for dual montior setups as they have thinner bezels. see http://www.digitaltigers.com/displays.shtml for LCDs good for dual monitor setups.

Non-computer stuff you may also want to consider:
Deck or cheap camcorder - can reduce head wear on your camera, and provide analog-digital conversion.
NTSC monitor (or industrial-grade TV)
Audio monitors - For accurate mixes you need these, along with some sound treatment.
Mixer - simplifies wiring. Gives you cheap preamps for recording scratch VO or whatever. Behringer UB series mixers are good.