If you were to log in, you'd be able to get more information on your fellow community member.
Have you thought to revisit this concept in the aftermath of the iPad 2 and the iMovie application? I know it's running on an iPad, which seems to be anathema to you, but the iPad 2 seems to be designed with the idea of being able to edit video on it (what with the dual cores, extra memory and whatnot). With the camera connection kit (yes, it's 40 dollars, but it works), you can connect most video cameras to it via SD card or USB port. I know it's not perfect, and that iMovie can't read all file formats, but it seems to be the best current solution, and at a minimum of $540 (plus tax), or a maximum of $740 (ignoring 3G), it's under your mythical $1000 price point.