So my girlfriend has an old 2007 macbook. I just formatted it and loaded snow leopard and my buddy gave me imovie 11. All I can say is wow! This is a game changer to get me started editing. So easy and fast. The preview pane works flawlessly and the rest of the software is very intuitive. I have spent the last hour looking at Intel Mac Pro's on ebay. For around $500 it looks like I can get a kick ass box.
Thanks for the info guys.