using final cut express on old g4 / g5 mac

Hey there,
Few questions regarding video editing on an old mac. I'm looking to do some editing (not simple, but not massively complex) and want to use final cut express- ideally i'd but a shiny new imac and fce from the mac store....unfortunately i don't have the cash. Looking round ebay, i see i can pick up a g4/g5 power mac for £100-£200. Although technology has moved on massively in the last 3/4 years, i'm assuming that these machines were once up to the job (and more). I could shoot SD video if that would help.

So i guess my questions are:
1) Would a G4/G5 mac be reliable and up to the job?
2) What are the minimum specs i'd require?
3) Would I be able to load up a recent copy of FCE onto an old mac or would i be better off trying to get hold of an old copy?

I've only started to use macs recently and really love the FC interface- I used to edit on PCs professionally (but wouldn't trust them to get the job done at this price).

All thoughts welcomed

Thanks very much

Jamie

1) For SD yes. For HD, well people have edited HDV on such systems.

2) Apple - Final Cut Express - Technical Specifications
3) That link is for the current version of FCE.