Mac Mini/Canon HF200 compatible?

Greetings ...
I'd like to shoot and edit HD video on my Mac Mini, but am wondering if it's up to the task. (My MM--purchased in July, upgraded to Snow Leopard specs: Intel Core 2 Duo / 2 GHz / 1GB of memory--can be bumped up to 2).
The camera I'm looking at is the Canon VIXIA HF200 (which Apple has blessed by offering on their retail site.)
I'm not planning anything too fancy (in terms of effects), and would like to use iMovie 09 and then rip with iDVD.
I haven't edited anything since the old days of standard VHS on my G4, so I'm feeling a bit overwhelmed by conflicting messages.
So, can these 2 work together successfully?
Thanks in advance for your help.
Douglas