OK, so I guess this is where I can sound like a huge noob, but that's why I ask first. Is the quality of the monitor that important? Does it have to support 1080P? I'm not concerned with what it looks like when I'm editing, just when I have a finished product. I plan on watching on my hdtv, not my computer.
I guess I should also say that I won't always take full advantage of the HD. Some things might just go on youtube. However, I would rather start off with something of high quality, so that when I resize, it will still look better than something shot with a regular camera. Plus, I would also like to have the HD version handy in case I ever want to distribute it that way. I'm not too concerned about making blu-ray discs- if I want to watch something, I will just plug into my tv directly from the computer through the vga input. I will most likely be making DVDs though. For example, I'm going to shoot a wedding and I plan on using an HD camcorder. When I have the finished product, I would like to make a regular DVD that anyone can watch (I know they do not have blu-ray yet), but also send them the file I have from my computer so they can watch that way (and have the HD version). So there will be some times when I won't make use of the HD.
Again, I'm a huge noob, but that's why I want to research first- buy, build, and then finally create!
Thanks for all the input so far!

For what you say you need to do, that build will suit you perfectly. And then some. If the monitor is important is up to you. I would recommend a 19-22" LCD monitor for general usage though. Samsung panels rawk

Thanks! Yeah, I'm drooling over this at the moment. I'm sure it will be a learning experience and I can't wait. I do use the hdtv (either a 32 or a 50) as a monitor sometimes in addition to the computer- I could always kick back on the couch while I edit, haha.

should i just buy this instead? Gateway GT5628 Quad Core Desktop / Intel® Core 2 Q6600 2.4GHz Quad Core / 3072MB RAM / 500GB 7200 SATA II HD / DVD ±RW 18X multi dual/NVIDIA GeForce® 8500GT DVI VGA/NVIDIA GeForce® 8500GT/15-in-1 reader/Fax/Modem / Vista Home Premium –Factory recerti

Sorry for jumping in so late.

Seeing as you say you wanna do video editing, let me ask you this, have you ever done video editing before? Have you ever shot a skit/movie? Edited?

I'm not exactly sure why you want to shoot your movies in HD, but I've been making movies and video art for nearly 4 years now and I have yet to get an HD camcorder, I have gotten a much more advanced camera yes, but resolution is still standard mini-DV recorded. Consider the fact that a standard resolution movie,of about 5mins, with maybe 2 or 3 re-takes and some slight editing, eats up approximately 15Gbs to 20Gbs, you're going to be looking at easily 50-60Gbs a pop per movie you make of around 5mins in "HD"

Also consider what programs you're going to use, Adobe Premiere is ok, but nothing great, and it's about the best there is in terms of video editing software for Windows. If you're really serious about making videos, you need a Mac with Final Cut. There is no video editing software in existence that beats Final Cut. Unfortunately, Macs aren't exactly cheap, BUT, you'd be surprised.. you don't need an uber-machine to edit video on.

I was originally running Premiere, then I started using Final Cut at school and fell in love with it, I managed to snag an old old Mac computer running a 500Mhz CPU on 512Mbs of RAM with a 6Mbs video card, it didn't even have a DVD burner either. Installed a new HD on it, added a DVD burner, installed the latest OSX, added Final Cut, worked like a champ, sure, exporting took about 6 hours, but it worked wonders, MUCH better then Premiere.

So basically what I'm saying is, the computer matters little when video editing, as does resolution. A video is based off how well you shoot it, how your angles are, what the scene composition is like, and how well you edit it. Having an uber-fast rendering machine and ultra-high quality picture means little if you have inadequate software.

If you're really serious about video editing, skip a bit on a computer, get better software, get a nice camera, you don't really need HD, a camera with a good set of lenses, a good battery, and a good tripod and you're set.

(Also if you want shooting advice, and/or help with script, scene, editing, feel free to ask)

Typed this up real fast, sorry


Edit:
Personally, I use one of these cuties now:
The Apple Store (U.S.)

Bought Final Cut Educational edition, loaded it up, runs great.

And I'd get maybe one of these to shoot video with:
Newegg.com - Canon ZR800 Silver Digital Camcorder 35X Optical Zoom 1000X Digital Zoom 1/6" CCD 2.7" 112K wide-screen

I started with one of those cameras, kept it for 3 years, just recently I bought one of these:
Newegg.com - Panasonic AG-DVX100BPS Digital Camcorder 10X Optical Zoom 1/3" 3CCD 3.5" 210K

yeah thats a mac program though. And video editing is very demanding on the system, trust me. I tried it. Even offloading form a camcorder was too much for my computer. not to mention that would also be good if you wanted to do any gaming