If your harddrive is FAT32 and the video exceeded 4GB, that's the limit of the file size allowed and you will get the error message that you've run out of space.
If you have an NTFS system (W2K or XP), the file size itself won't matter until you go to burn it to a dvd and if it's over 4GB or so after decoding it won't fit on one cd unless you shrink it with another software program.
If you are going to install a second larger harddrive as a slave, that's do-able and you can use that drive as the destination for your editing programs. You can probably also move some of your other large folders such as My Documents to that new drive as well.
I have a P4 PC, 512MB RAM, with a 60 GIG hard drive. Since I tried doing some video editing but soon ran out of hard drive space. Would installing a second hard drive be prefferential over replacing the existing one? Would I need another fan, or a larger power supply? What other things would I need if I install a second hard drive? Would I be able to dedicate the 2nd hard drive to video editing?
I think I would like to also install a DVD burner as I am using a CD burner right now, and can only create VCD's. Any recommendations on good DVD burners? Thanks