Your PC is lacking on all fronts. It is a dual core, it does not contain enough memory, the video card is outdated, as all the rest, and it's performance is much slower than 90% of the observations on the PPBM5 Benchmark. For Premiere Pro this system is below borderline, it is around 40 - 80 times slower than a fast system, but for PE it might be less.
There is only one remedy: Get a new system.
For hints, look at the FAQ section and Benchmark Results
Thank you very much for the quick reply!
My MB does support Core 2 Quad processors and I could upgrade to 8GB RAM and a state of the art GPU and maybe put the OS on a SSD.
But then, all I am saving is fundamentally the cost for a new MB and that might not make a whole lot of sense.
I was looking for up to date hardware recommendations for Premiere elements, but could not find any. Would you have any mainstream recommendation in terms of MB, CPU and GPU that would be sufficient for a hobbyist who mainly uses premiere to edit GoPro footage?
Thanks a lot!
Build a Desktop Video Editing PC
-3 price level ideas in http://www.pacifier.com/~jtsmith/ADOBE.HTM
-what PC to build http://forums.adobe.com/thread/947698
-2 how to build videos http://forums.adobe.com/thread/1104182
-another video http://forums.adobe.com/thread/1145366
-planning & Building http://ppbm7.com/index.php/intro-part-1
-memory for LGA2011 http://forums.adobe.com/thread/1098759
-an Adobe FAQ http://forums.adobe.com/thread/878520
-several more links http://forums.adobe.com/thread/815798
-build tuning http://ppbm7.com/index.php/final-results
Also, some ideas for "easier" GoPro editing
As I said, look at the FAQ section, and specifically at: What PC to build... and System Requirements... and stuff like that.
At this point any upgrade that you make to that now-six-year-old PC is a waste of money, especially now that the least expensive CPU that's compatible with that old, now-completely-obsolete LGA 775 socket that would be a noticeable upgrade from your current CPU costs more money than that entire system is currently worth. As such, I agree with Harm: Don't spend a single penny on that old system. Instead, save up for an entire new system.
Thank you all for the valueable and informative input!
I will recycle my tower PSU, DVD etc. and start looking into finding a demand/quality compromise for the other components. Since I mainly do 1080/50, I should be able to get away with an intermediate solution.
Best regards and thank you all!
The medium price build at my "3 price level" link above is about $1,200 - but that includes a case, and sata DVD writer, and keyboard and mouse
Using your list as a guideline, I came up to 925€, including a 120GB SSD for the OS, which might or might not be useful. I picked an ASUS P8Z77-M mainboard for the estimate. All the other items I can recycle.
Now, all I have to do is save up a bit more money and hope that the prices will come down..
PROCESADOR INTEL CORE i7 3770 3.4 GHZ SK1155 8MB
PLACA INTEL CORE i3/i5/i7 ASUS P8Z77-M SK1155 DDR3 PCX3.0 M-ATX HDMI
MEMORIA KIT 16 GB ( 2X8 GB) DDR3 1600 KINGSTON HYPERX CL10 RED
TARJETA GRAFICA 2GB EVGA GTX660 PCX3.0 DDR5 HDMI - DPORT
DISCO DURO 120GB 2.5'' KINGSTON SSD SATA3 V300 SERIES
DISCO DURO 1TB WESTERN DIGITAL SATA3 7200 64MB CAVIAR BLUE