What would you guys recommend for editing on a new lower to medium end Win7 PC? Between Vegas, Premiere etc. I wasn't sure what to check out.

Right now I'm used to Final Cut Pro after having used it in school, but I just hated the amount of limitations Macs have.

Is there also a cheap edition that has a good interface, doesn't lose too many features and doesn't require a monster custom built machine?

Right now I have a Compaq C5826 (3.2 ghz processor, 4GB RAM, 500GB HD, 64bit Windows 7) which of course isn't the greatest but should be enough to do some little projects here and there.