Hello bill t and cn15,
What PC computer CPU and and amount of memory are you using with Premiere to comfortably edit video shot with the Canon HF-10? Also, what size
You want a pretty good CPU, quad core 2.4ghz at minimum. Don't really know how much ram is optimum, my editing system has 8GB and that seems enough. Main thing with any video editing system is you need really good disc performance. With Premiere it helps to have a dedicated SATA 300 disc just for you video clips and nothing else, it might be best if it is the only drive on the particular motherboard SATA channel. USB drives may not give adequate performance for HD.
You want the widest possible monitor for any editing program, it's helpful to spread your timeline over as much real estate as possible. Two 1900 wide LCDS are a good choice although just one is really OK. Additional low end monitors can be helpful for parking less used menus and tiled dialogs. A big plus is if you have a separate monitor just for your preview screen, with the right video card some programs like Premiere support direct playback to a HDMI monitor, that's really worth the extra expense if you are doing any serious editing.
I'm not really a Premiere guru, for the latest good info you should go to Adobe.com and dig down to the Premiere forum where every possible question has been asked and answered a few dozen times.
Should also mention that there is a third party "Cineform" codec that when used during import of HD gives a highly optimized file that can sometimes make the difference between jerky and smooth playback of HD elements. A little pricey but said to be worth it.