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Your e1550 would have some problems running 7+ tracks with Sony Vegas Pro 10. That is the mobile version and it has a 533 FSB. That Buss speed with the fact that rendering has to swap a lot, you would bottleneck and end up with a lot of jitters.
So back to my point, Even my system is not able to run Sony Vegas Pro 10 or CS5 and allow me to get all that I can get with the program. If I am going to spend that much on a program I want to USE all the program, not just what my system can handle.
I have been giving thought to building another system. Have to chew on it a while.