Will Premiere 6.5 and Storm do the business?

I'm 61 years old. I've just bought a Dell Dimension 9200 Core 2 Duo E6400 2.13 Ghz system with 2GB memory, 500 GB(2x250) SATA HD - Dual HDD config -Raid 0 Stripe, 256MB nVidia GeForce 7900 GS graphics card, Sound Blaster Audigy Advanced HD Audio, Windows Media Center, 16x DVD/RW+R.

I've taken my old Canopus Storm video capture card and installed it in my new PC. I'm also installing my old Adobe Premiere 6.5, and Nero 7.

I haven't done any video editing for a couple of years now. I shall be editing my old camcorder footage from Hi8 and DV, purely for domestic use, outputting to DVD.

My question is: will the Storm, Premiere 6.5 and Nero 7 be too restrictive for my new setup?

Any advice and suggestions (assume budget limit of £250) would be greatly appreciated.