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Good Enough Configuration?

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I'm getting ready to purchase a MAC Pro set up as follows...

MAC PRO
One 16x SuperDrive
Apple Keyboard and Mighty Mouse - U.S. English
Accessory kit
Two 2.66GHz Dual-Core Intel Xeon
2GB (4 x 512MB)
Apple USB Modem
750GB 7200-rpm Serial ATA 3Gb/s
Mac OS X - U.S. English
4 x NVIDIA GeForce 7300 GT 256MB

I plan on using the machine for heavy video/ sound editing eventually with Final Cut Studio, but I was wondering if this set up is good enough to get me started. I'll only be editing short films for a while, no feature length HD video just yet, but I guess my first question is, can I start a business with this set up (editing video etc) because that's what I eventually plan on doing.

Also this machine with Final Cut Studio makes my total about $ 5,300. In order to keep my total at about $6,000 what would be a good monitor display to buy for the machine? (this is probably my most important question.)
 

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