It's pretty well reviewed here:
Only thing it's missing for me (but only because I've currently got a fixation about it) is analog input.
My personal experience with Panasonic digital camcorders has been excellent. (Well, the one that I've owned has been great. Touch wood.)
Re editing: should be OK, but you'd probably want to upgrade memory to as much as you can afford, and consider getting a separate hard drive for optimum performance.
Premiere Pro, Encore, Photoshop, Ulead VS6, WXP Pro, Core 2 Duo, 2GB, 2 x 250GB SATA3 drives, 2 x 250GB USB 2 external drive, DVD writer, GeForce 7300 GS 256MB
The biggest fool can ask questions that the wisest man cannot answer...