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A few things to consider:
1) The slowest component in any PC is the hard hard drive. Video editing involves writing huge chunks of data to your hard drives, so a slow hard drive will most certainly affect your performance. Laptop hard drives are traditionally slower than desktop drives, as factors such as heat and mobility must be taken into account. However, this is easily remedied by replacing the original drive with an solid state drive (SSD). SSDs are still fairly costly, but certainly a lot cheaper than replacing an entire laptop.
2) The second factor is the model of i7 CPU in your laptop, as all i7s are not created equal – some are quad core, but most are only dual core. My experience has been that, in terms of video editing, a laptop based on a quad core extreme edition 3rd generation CPU will outperform a similarly priced unit based on a 4th generation CPU, as this will only be a dual core. Units containing 4th generation extreme edition CPUs tend to be substantially more expensive with only a small gain in performance.
3) Video editing doesn't require a powerful display card and, although more RAM is always welcome, you will see diminishing returns above 8GB.
Even if your i7 CPU is only a dual core, I would recommend upgrading to an SSD, reloading Windows, installing only the necessary software and optimising the laptop for video. This should give you a substantial performance improvement, regardless of your video editing suite.