Although the new laptop will perform better than your previous version, laptops tend to overheat and don't last as long as desktops. (Generally, 2-4 years max.) And be aware that Windows 7 is now the operating system of choice by most computer manufacturers. You may need to make sure your programs work with Win7. On the other hand, desktops last longer and because of more fans and better venting, they don't overheat as badly, as long as they're maintained correctly.
In addition, a desktop will give you options of adding large amounts of RAM if you choose to upgrade. RAM helps with certain portions of the lag problem. Laptops don't upgrade easily.
So.... it depends entirely how you want to deal with your decision.. If portability is an important issue, and it IS for most students, then you'll want to get a laptop with the most amount of processor and RAM, and then you live with the overheating and short lifespan.. If portability isn't a priority, then get a desktop which will run a little faster during rendering and will last longer.
Hope this helps.
Grif
Hi, I am a student right now and I'm in need of a new computer. I have an old hp laptop that just broke, and it's pretty out dated anyways. (AMD Athlon 64 processor)
I'm mostly looking for anything that can replay and edit my hd videos that are filmed from my DSLR camera.
The trouble I had from doing this with my old hp laptop, was that it will lag. I would drag the clip into Sony Vegas or Windows Movie Maker, and the preview of my clip will just lag when I haven't even edited anything. (This makes it virtually impossible to make accurate edits. Not to mention the super slow rendering and frequent crashes. It is quite frustrating.)
Can an something like a intel i5 laptop accomplish the lag-free clips? Or would I need a powerful desktop minimum, no questions asked...?
I am a student, so if a new laptop will do the job, I will take it because of the portability. But if the desktop is really necessary, I will consider getting it.
Many thanks,
Alex

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic