If money is no obect, then get a dual CPU (Athlon or Xeon), and 2 or 3 15,000 RPM SCSI drives configed in a Raid 0.
However, if you have a limited budget like most people, then you need to spend your money where it will help the most.
If I was building a new system for video, I'd buy a fast (but not to expensive) P4 (533 Mhz bus) like the 2.53 Ghz model, a good name brand mother board with built in RAID, 512 MB Fast DDR memory like PC3200, and 3 WD 120 SE drives.
I'd use the 1st drive for the OS & applications, and set the other 2 drives up on the RAID controller in a RAID 0 fro speed.
That's pretty close to my own system I currently use for video that I built last year, 2.1 Ghz P4 (overclocked 1.6a), PC2700 Overclocked to 400 Mhz, Maxtor 60 GB OS drive & a WD 120 SE for the data.
When Video editing, I spend most my time waiting for Disk I/O (when splitting/merging files) or the CPU (when re-compressing files to a different format like SVCD). So, if he is going to be just editing & saving back out to the camera, then make sure you have fast drives. If he is going to be re-compressing the files for DVD or SVCD, then you might want to get a faster CPU or even a capture board with it's own MPEG2 compression chip.