System requirements for installing Premiere Elements

Hello,
I currently use premiere elements 7 on Vista. I am upgrading my PC; probably windows 7, possibly windows 8. Not sure if I will continue with PE version 7 or upgrade to 11.
Can you tell me what hardware components are the most important to run PE. Cost is a factor. I am trying to decide on the Intel I5-3570 vs. I7-3770 vs. upgrading other components, such as going from 8gb ram to 16gb ram, or upgrading the Intel SSD from 180gb to 240gb.
Thanks, Eric

I've been using PrE10 for 1080p60 AVCHD on a Toshiba laptop for a year. It has an i5, 8 gigs of ram, no graphics card and one slow HDD. It worked.
I wanted a better and still portable video and photo editing machine. Two weeks ago I upgraded to a ASUS "gamer" laptop with a bigger screen, an i7, graphics card, fast HDD, 16 gigs of ram, an SSD and BD burner. PrE11 is installed. I spent the weekend working on a couple videos with the new system. Video editing is now more pleasant.
For the OP's questions, I think the three biggest factors in the new system are the "official" PrE 11 support of 1080p60, the i7 and the large memory. I can't tell if the graphics card is making a difference or not. The SSD seems to help, but I think the large ram is more importat. That said, I'm experimenting with putting the project, with all the assets, in a single temporary work folder on the SSD. To preserve space on the SSD, I move the project folder and contens to the HDD or an external HDD for storage when the project is complete.
Bill
PS: @ Steve Grisetti -- Thank you for the intro to 11 videos at Muvipix. They got me over the interface tranistion.

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