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Well, your computer is a bit on the slow side for really intensive work. It's possible it's having trouble keeping up with making and recording video at the same time.
Here's a list of benchmarked CPUs. Yours rates about a 3,000.
At least a 5,000-6,000 would produce much better results.
It looks like it may rank even lower (2313). Having said that, it's processor speed of 2.4GHz is faster than the 2GHz minimum that Adobe lists for the product. Any ideas of other causes or workarounds short of buying a new computer?
Exactly what IS the video you are trying to edit?
Codec & Format information, with 2 links inside to read -read both links in reply #1 http://forums.adobe.com/thread/1270588
Report back with the codec details of your file, use the programs below... A screen shot works well to SHOW people what you are doing
http://forums.adobe.com/thread/592070?tstart=30 for screen shot instructions
If your computer has a 5400 RPM hard drive, you may never be happy editing other than "vanilla" DV AVI
Below link is oriented toward Premiere Pro, but may give you ideas for a video editing laptop