Hi Ron, just some thoughts on your new Computer:-
Back in the old days, the user experience and the Perceptible Performance of a Computer was mainly a function of the speed of the CPU (central processing unit). The faster you pedalled the faster you went. Nowadays more than ever its down to the whole package, memory cpu, software etc... And the industry is proliferated with acronyms so appologies in advanced.
Desktop or Laptop ?
CPU (Central Processing Unit) speed
number of core's in the CPU (1 core is effecitvely a single CPU, 2 core's are 2 CPU's etc....)
CPU Cache (very fast access memory built into the CPU)
memory (type, speed and capacity)
Disk Speed (not capacity)
Graphics card are like seperate computers within a computer hence CPU & memory of the card are important.
Operating system
What you want todo with the computer
Can your software work with the new hardware setup
Internet connection.
For example if all you do is browse the internet, buying a fast expensive new computer will unlikely change your user experience that much.
A reasonable Desktop setup that should cost around £500 including TV Monitor would be something similar to below:-
CPU. Intel Dual Core, 2.4Ghz speed, 1Mb cache
Memory. DDR2 and about 4Gb will cope with most video editing.
Disk Speed. Tell him the faster the better

. 500 Gb capacity will probably be sufficient
Graphics card. Something like a Nvidia GeForce 9800Gt
Windows Vista is over its troubles and is a good operating system. Importantly is understands the modern hardware and works well. XP support will be dropped by Microsoft soon due to the new operatings system "Windows 7" about to hit the shelves which means that bug fixes and security holes will not be fixed in XP. My advice would be stay away from "Windows 7" until Microsoft release the first update which fixes all the problems (12 months or so away).
I would reccomend investing in the latest version of your video editing software that is compatible with Vista as this will work better than your old XP version. Alternatively the free software with Vista for doing this is pretty good albeit basic.
On board sound should be sufficient.
I would avoid running 2 operating systems. Technically a dual boot (as it is known) is easy to setup but makes for a more complicated configuration providing more opportunity for it to go wrong. Keep it simple. Imagine all the updates and antivirus patches you will need to apply twice. Legally with a dual boot you will be exposed to more licences consequently the cost of the setup could prove more expensive.
If the video's are important to you make sure you have a backup. External USB backup disks are ideal for this and relatively cheap compared to the cost of trying to recover all those pictures and videos.
I'm sure you'll have a ton of other questions, just let me know.