Basic video editing rig on a budget. Will this set up work?

Question

Programs: Adobe CS6 Creative Cloud with Premiere Pro, After Effects, Photoshop, and Lightroom as the main uses
Useage: I will mainly be editing images from my D60 (10.2 Megapixel, so nothing massive) and footage from my GoPro Hero 3 Black edition (up to 4K video, but will likely film mostly in 1080 and 1440, maybe 2.7K now and again).
Requirements: I need a cheap build that will run with stability
Proposed rig:
CPU: Intel Core i5-3470 3.2GHz Quad-Core Processor  ($149.99 @ Microcenter)
CPU Cooler: Cooler Master Hyper 212 Plus 76.8 CFM Sleeve Bearing CPU Cooler  ($19.99 @ Newegg)
Motherboard: ASRock Z77 Extreme4 ATX  LGA1155 Motherboard  ($119.99 @ Microcenter)
Memory: Mushkin Silverline 8GB (2 x 4GB) DDR3-1333 Memory  ($33.84 @ NCIX US)
Storage: Seagate Barracuda 2TB 3.5" 7200RPM Internal Hard Drive  ($89.99 @ Amazon)
Video Card: Asus GeForce GTX 550 Ti 1GB Video Card  ($114.48 @ SuperBiiz)
Case: NZXT Source 210 Elite (White) ATX Mid Tower Case  ($39.99 @ Amazon)
Power Supply: Apevia 500W ATX Power Supply  ($25.98 @ Newegg)
Operating System: Microsoft Windows 8 Full (64-bit)  ($80.00 @ Newegg)
Total: $674.25 (Really comes out to about $700)
PCPartPicker part list: http://pcpartpicker.com/p/At9D
Price breakdown by merchant: http://pcpartpicker.com/p/At9D/by_merchant/
Benchmarks: http://pcpartpicker.com/p/At9D/benchmarks/
(Generated by PCPartPicker 2013-01-30 11:53 EST-0500)

Answer 1

Here's the deal:
As listed, that build is barely adequate for even 1440x1080 HDV material due to its mediocre CPU (a quad-core CPU with no Hyper-Threading) and weak GPU (the GTX 550 Ti is actually slower than a GTX 650 despite its higher memory throughput). In addition, do not get an Apevia PSU! That so-called "500W" unit can barely handle even 300W without severely damaging your PC's components. Third, you really need more than one disk to handle anything above SD DV since a single SATA connection cannot handle simultaneous reads and writes (which all NLEs require). As a result, even with MPE GPU acceleration enabled that build would have been at least five times slower than a fast desktop PC, and may not perform all that stably due to the issues with the PSU.