Just specify an i7-2xxxM CPU, 8+ GB memory, nVidia GTX460+M card, two internal 7200 disks, 1920x1080 display, eSATA(p) port and you should be OK. Anything less will be severely handicappped and underpowered. I guess you need to double your budget or more. $ 1800 is more realistic.
So CS5 only works on really expensive computers? I have CS3 running on a relatively cheap computer and it works fine.
There are examples of $ 1400 desktops that will suffice for short form editing, but notebooks have a tendency to be much more expensive while delivering less.
You can edit HDV with CS5.0.3 perfectly well with this:
I use an external drive connected to the built-in eSATA port for video files. The display has the required minimum resolution, and the graphics can be hacked to use the Mercury engine.
Laptop Video Editing PChttp://www.sagernotebook.com/
-or another brand laptop with the following features
-the newer sandy bridge 2720 or 2820 quad processor
-and nvidia graphics preferably the 460m, 485m is a bit much
-1280x900 display with OpenGL 2.0-compatible graphics card
-and 8 or 16 gig ram and Win7 64bit Pro
-and 2 internal 7200 HDDs minimum