Do I have a hope of editing in CS5.5/ CS6?

Hi,
I am a father, teacher and tennis coach looking to edit videos shot in 1080p with my Canon DSLR. My goal is to be able to edit & enhance my family videos, make DVDs for my relatives, and create short videos (with limited AE) to puzzle my high school math students  in new and interesting ways. Can I do this with the machine I have or am I in over my head?
My Specs:
HP Pavilion DV7 Laptop
Quad Core i7- 2630QM (2.0 ghz, Sandy Bridge)
16GB DDR3 1333 Ram
ATI Radeon 6770M 1GB GPU
3 x 7,200rpm HDs (Two internal 750GB, one 300GB on USB 3.0)
Windows 7 Professional 64-Bit
17" 1600 x 900 Screen
I was hoping that CS6 would have Open CL support for my video card, but was disappointed to find out that it will only be for Mac owners. Assuming there will probably be no update to support AMD OpenCL in Windows, is it a waste of time for me to try and edit with Premeire Pro? I really don't want to use Vegas, and consumer video editing programs are such trash. Will I be able to do basic editing, or would the experience be too painful  without a CUDA card?
Thanks for your time and input!

>shot in 1080p with my Canon DSLR
Do a test... shoot an hour in that, and create a DVD... making careful note of the exact time it takes to transcode and write the DVD
Then do the same in 1080i and compare times and DVD quality
I have a Canon Vixia that records in AVCHD and I always shoot in 1080i and get great quality DVD output

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