with my exprience, 12inch is a bit too small or video editing, if you have a large screen that attach to the powerbook then yes.
also, you mentioned you have a external hard disk, that's good, because laptop hard disk just can't cope with the rendering.
ke many people I have been behind the scenes and I make random comments.. HAHA.. But anyways I have a pc 3.0 ghz at home with an external 200 gig hd. It is great for doing video editing, gaming, and all of the other stuff. I bought an ibook two months ago and I am hooked on mac. HAHA.. First of all I want a powerbook, but the 15inch seems to big for me. I mainly want to do video editing on it because I know final cut is really good and if you want to go with video editing a mac is good enough. I am going to give my ibook to my sis. Of course I am going to have to wait for the powerbooks to be updated because I want a better video card. The 5200 and the 9550 are not that far behind each other. Plus the mac is way better. I would buy a kvm switch to use it as a desktop also to span. Is the 12 inch powerbook with superdrive adequate enough to run final cut really good? I know I have an option of the imac, but I have my pc and I do not find it useful to have a pc and an imac. Plus the powerbook consumes a lot less power. I am going to make a video yearbook for my club and that might require capturing and uploading pics on the fly. Am I making a good decision or am I better sticking with my pc? 
I need feeback and insight... BTw I am running the ati 9550 128 mb card on my pc. None of my friends had ever heard of it.. HAHA 
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