Panasonic HDC-SD20 on the way now, should be getting it on Monday (i.e. tomorrow) - can't wait!
While waiting for it, I've been busy looking around for a good video editing software and I've narrowed it down to one which is the Corel VideoStudio® Pro X2 Ultimate due to the feedback.
I downloaded the trial version from the Corel website, installed it and had a play with it.
After playing with it, I am not too sure if it's a good software or not. It feels a bit restricted, but I guess that's why it costs £67.
Is there any other software that I've missed?
My budget? As cheap as possible as I've run out of funds to cover the video editing software until my next payday.

Ideally under £80 to £90 depending on how good it is.
My current PC setup:
Windows Vista x64 (but can have dual boot to whatever operating system required for stable editing)
Intel Core 2 Duo E8400 @ 3Ghz
4GB memory (2x2GB DDR2 800MHz/PC6400)
ASUS HD 4850 512MB DDR3 Dual DVI HDCP HDTV out PCI-E Graphics Card
Thanks all