I'm looking at this HP Pavilion workstation here are the specs
OS: Windows Vista Home Premium service pack 1 32 bit
Processor: Intel (R) 2 Quad Processor Q9450 (2.66 Ghz
Mem: 3 GB DDR2-800MHZ DUAL CHANNEL SDRAM (2X1024,2X512)
Graphics Card: 512 nvidia GeForce 9500 GS DVI-I, vga, HDMI
Hard DriVe: 500 GB 7200 RPM SATA 3 Gb/s
CD/DVD: Light scribe 16x Max DVD+/- R/RW Super Multi Drive
Front Pro Ports: 15 in 1 Mem Card Reader, USB,1394,AUDIO
SOUND CARD: Intergrated 7.1 Channel Sound w/front Audio Ports
17 flat screen monitor,speakers and keyboatd $1,350.00

Knowing I will need another Hard Drive for video storage added

I'm using a Canon xl-2, Pinnacle Ultimate 12 NLE and possibly HD VIDEO later will this be a good, better or best workstation for my needs. or are there any other things that should be added or subtracted. I know some say build your own, can this be done for less by building your own?

FIRE AWAY WITH OPINIONS

Good, but only with the addition of at least 2 more HD's. One smaller one for OS/programs and the other two for media & projects. It depends on budget, target use, etc. whether this can be called better or best. With the limited info you supplied, good is the best I can make of it.

I won't store my finished projects on this workstation I will just keep a disk copy of it. So
I should only need an additional Hard Drive for video storage which I will remove at times when the footage is no longer needed.
As for the effect's and transitions from my NLE I would say I will use a fair amount fades and color correction slowmo at times and some Prodad and Boris fx