I can't afford a VX2100 at this time so I have to use my mini cassette camcorder. How can I transfer the film on cassette to my PC so I can edit it? Also can I do sound overs(narration)? Will I lose much picture quality? Thanks from a newbie-wannabe..

What film? are you talking shooting Super8mm or 16mm film and transferring it to DV tape for editing? Or are you talking about how do you get the footage from the camcorder onto your computer so that you can edit it?

If it is the latter (as I re-read your post) you will need to buy video editing software for your computer. Then you connect your camera and transfer the footage onto it. How that is done depends on what software you get, and when you get it it will have a manual that will walk you thru the process.

If you have a mini-DV camera, then you will need a firewire card (see pricewatch.com, resellerratings.com) and capturing software. You should probably get a editing program too.

Video quality wise, the transfer via firewire is lossless.

VHS-C (small version of VHS) is a whole difference story, as is hi8/video8.

3- Also can I do sound overs(narration)?
What gear do you have already?
Does your camera have a mic input jack? Headphone jack?
Sound card?
Microphone?

And what level of quality are you looking for in the narration?

At the lowest end, you could just use the camera's on-board mic. It'll give you sound, but not that great sound depending on your camera. There may be motor noise, hiss, and your voice may sound off depending on the mic you use.

To get better quality:
A- Use good talent.
B- Higher quality microphone (where it doesn't pick up vibrations)
C- Higher quality analog-digital converters
D- Better room acoustics (for voiceovers the room should be fairly dead, but not completely anechoic so your talent doesn't go crazy.
E- Good content.