A Pentium 4 with Hyperthreading or AMD equivalent, Windows XP (Home Editon will do fine), a mobo running at 800Mhz, 1GB Memory, a processor running at least 2.4Ghz (I have a 3.2Ghz), two hard disks as Alan said, a firewire port for capture, a multiformat DVD burner drive and an ordinary DVD drive for duplication. A graphics card if you want to connect up two monitors and have more windows open, speedier screen redraws and previews (for effects and transitions 2D and 3D), and be able to see twice as much of the timeline compared to having only one monitor.
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Better than a poke in the eye with a pointy stick any day...
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