Converting will not help, unless you accept downrezzing to SD resolution, then maybe, just maybe you can edit it. For that convert to DV AVI type2 with 48 KHz/16 bit stereo PCM/WAV.
If you want to edit your current material, make sure that you meet at least minimum requirements. That means at least two physical 7200 RPM SATA disks.
I agree with Harm. That single 5400RPM HDD is just too slow to do a smooth feed, especially as it's already busy with the OS, the program and the Page File.
This was why I went with a Sager laptop to get 3x 200GB 7200RPM SATA II's.
Good luck and sorry for the bad news,
Thank you, guys. I can't really buy a second hi-speed HDD at this moment, so I'll have to do it with whatever I have available.
I was thinking, I probably need to downgrade and resize the video anyway, since I won't need it in its original quality. What would be the easiest way to do it? Can I use Adobe Media Encoder to convert it into DV AVI type2? Or maybe I thought about WMV for Windows to kinda speed it up as well?
Downrez in camera and capture DV in a standard DV sequence. Adjust the menu in the camera to do that.
Lesson 1: Always keep your original tapes safe, never fall into the habit of using a tape for a second or third time.
I would try to convert your files outside of PR, because it carries such an overhead on an underpowered system. Google for a converter and you will find many links. Here is an example: http://www.ojosoft.com/video-converters/index.html