I am new to AVCHD. I am looking at getting the Canon HF10. I have a Q6600 with 4GB RAM. How doable is video editing with this setup and approximately how much HD space would I need. Is editing these files even possible in Premiere?

You should be fine with editing AVCHD with that setup, hardware wise. Premiere doesn't support AVCHD at this point, though, so you'll need to either use other software, or use a converter to convert AVCHD to another format supported by Premiere.

As for HD space... well, that really depends on how much you are going to shoot! :) At the highest resolution, HF10 creates about 8GB per hour of recording -- you can do the math from there.

Thanks for the info Pulzar.....bummer about Premier not supporting AVCHD.