Invest only once! Get a better camera. If you don't, I suggest using consumer applications like WMM or Magix and avoid spending your money on Pro software.
The alternative is to get a decent PC, a decent camera and spend $$$.
Well put, Harm. Will WMM or Magix allow me to edit this footage
with the hardware that I already have? I already have Premiere Pro CS4, and do plan on upgrading my camera
in the near future, so at that point I could look at upgrading hardware at that time? Does premiere pro take
more "horsepower" to edit the same footage from my camera than a more simple program such as WMM?
The Kodak camera is a typical consumer camera and PR does not handle it easily. It may mean converting the source material to something editable before importing. I admit that I have not followed the various threads on this camera closely, but it requires extra steps to make it editable. Have a look around.
The Kodak camera uses it's own version of H.264 and not the more regular AVCHD format. In any case, you can use your current PC for other tasks and need to get a completely new PC, based on the i7-9xx or better, 12 GB RAM and at least 3 internal SATA 7200 hard disks, plus a reasonable video card to start.
The more economical solution is to use a consumer application.
Thanks for the great info! I will plan on using a consumer app until I beef things up a little in the hardware area.
Your current problem is you have only one disk drive. CS4 requires a second dedicated 7200 rpm drive at a very minimum