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I just found this nifty Linux Distribution with all the needed video editing tools preinstalled: http://www.artistx.org/site2/

3GBs for HD isn't a lot. I've done a 45 minute film on a similar system, but now I'm rocking my Core i7 with 6GB of RAM. You really feel the difference! Actually, 10 secs of preview is more than what I used to get on the old system.

If you want a freeware program, I can only suggest Virtual Dub. Very easy to use and lots of features.

As always, Andrew has a tutorial on that: http://videocopilot.net/tutorials/speed_variation/

I recently bought a similar system to yours and it absolutely rocks! However, I'd really suggest getting 2 more TBs of internal storage (I have two Samsung HD103SJ). Editing from an external drive sucks and you really don't want to USB/Firewire port to be the bottleneck with such a system! Also...

There aren't many free video editing porgrams out there. I'd suggest you spend a few $$$ and get an old version of Premiere Elements, Sony Vegas or Ulead Video Studio. Shouldn't be more than 50$ or so but will make your life so much easier. You'll get work done a lot fast in those programs than...

Buy the two 500GB and mirror them, so that you have a backup!

That's exactly what I did when I recently had a longer shot to track in AE. There's a plugin for AE called Mocha that helps with Motin Tracking and can do tracking even when points are not in the frame all the time. It's quite pricy though: http://www.imagineersystems.com/products/mocha/

As long as you have the newest Version of Premiere, you should be fine. However, you'll still need a rather fast pc to do the decoding and edit in realtime.

Well, while I agree with Will that a shotlist is a very good thing to have, I wouldn't recomend it for the first film! It wasn't that long ago that I made my first film with a decent script, actors ect. We didn't have a shotlist, let alone a storyboard! And I don't think we would've done any...

Can't really second the external HDD. I used to edit from external drives on both USB 2.0 and Firewire 400. It's lame as hell. Make sure to get an internal SATA drive, it's just so much faster and also quite cheap! Other than that, just capture all you footage with HDVSplit...

There is no "best" post-production/video editing software. It always depend on the guy infront of the PC! You can make great movies with the windows movie maker or iMovie on a mac. If you know hwat your're doing, the software you do it with doesn't really matter that much. Of course there are...

With cameras like the 5D, it's not so much the stuttering that's an issue. However, in quick pans, one can easily see the so called rolling shutter effect. The foundry has a good explanation and offers a Plugin for After Effects to fix these problems: More Info here

Have you had a look at Leo Laporte from TWIT.tv ? He's got a small webTV network and makes over 1 mio $ a year from advertisement in his shows, that he releases online for free! It's very interesting what he does.

Which the HF200 semms to have, accodring to this article http://reviews.cnet.com/digital-camcorders/canon-vixia-hf200/4505-6500_7-33483231.html So yes, it should work just fine!

It's true that the RED One costs quite a lot. However, prices for the upcoming RED Scarlets are well within your price rage. Would renting be an alternative? I mean, you could rent a very good camera for quite some time until you are up to your 7000 bucks. Plus you'd always have the ability to...

Capture as DV-AVI, render VFX-Footage as TIFF-Sequence (deinterlaced). Import back to Premiere, do the rest. However, I'd do Color Correction in AE as well. It's just more powerful for that kind of stuff.

Well, technology in moving so fast these days, that you WILL finde yourself with obsolete equipment twelve years from now. No matter what you buy now, it'll be very old stuff even 5 years from now. However, there are some great cameras out there right now that shoot high quality pictures that...

Have a look at the Canon HV30. Also watch episode 29 of FilmRiot where the guys talk about sub 1000$ cameras: http://revision3.com/filmriot/cameras

Are you sure you can't borrow a laptop from a friend or something? It would by far be the cheapest solution; all the small portable solutions I've seen offer little disk space for ridiculous amounts of money.