Hi I'm trying to build an edit suite on a budget and was wondering if this spec would be sufficient for editing hacked gh1 footage on premiere cs 5.5?

Processor (CPU) Intel® Core™i5-2500 Quad Core (3.30GHz, 6MB Cache) + HD Graphics
Motherboard ASUS® P8H67-V (NEW REV 3.0): ATX, USB 3.0, SATA 6.0Gb/s, CROSSFIREX
Memory (RAM) 8GB SAMSUNG DDR3 DUAL-DDR3 1333MHz (2 X 4GB)
Graphics Card 1GB AMD RADEON™ HD6450 - DVI,HDMI,VGA - DX® 11
Memory - 1st Hard Disk 1TB SERIAL ATA 3-Gb/s HARD DRIVE WITH 16MB CACHE (7,200rpm)