You should be good with what you have. Render times should be about a minute or so longer than the final project unless you have lots of effects and layers. I personally edit on a laptop with integrated HD 4000 graphics, a 3rd gen. hyperthreaded quadcore i7 stuck at 2.2 ghz with no TurboBoost, 8gb ram and a 7200 RPM 1 tb drive with no problems in Vegas. To speed up your render times try rendering to and from your SSD and then moving your whole project to your HDD once you're totally done as well as looking around in Premiere for something similar to GPU assistance during rendering to help your CPU out a bit. To make your edit smoother try lowering your preview resolution and caching your project to RAM now and then. The shortcut for that in premiere should be "return" or "enter."
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