I know it ain't much but it's all I could afford($300)

I'm doing live Music Video's and recording an acoustic guitar and vocal for a music video.

Will my video be any good as far as the camcorder and sound if I shoot and edit them with my Apple Final Cut and Apple GarageBand

I'm thinking I can get an OK product, I want to shoot documentaries this way too. Later on I will get better equipment.

What do you think?