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computer speed does not affect quality of render.
computer speed does, however, affect speed in which a rendering takes.
jerm and i make films with miniDV (XL-1, specifically, edited on an athlon 64 3000) and, while it's much faster to render up preview shit, it has absolutely no baring on the quality. we don't use vegas (though we have a good friend who does and swears by it), we use the newest adobe premier. as long as your camera is good, and you have a good program for editing and encoding, it should look fine.
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