Mostly, it matters when overclocking, or if you want faster memory speeds and more memory bandwidth. For video editing, especially HD, I'd go with the most memory bandwidth you could. DDR3-1600 will deliver that, assuming you set it up properly in your BIOS once you have the system built. You'll also want to look at CAS latency times. For DDR3-1600, a CAS latency of 8 is the best you'll do without spending an arm and a leg and it will do just fine for editing video.
http://en.wikipedia.org/wiki/DDR3_SDRAM
For your hard drives, you'll want fast drives and lots of storage space, and this is even more important for HD video editing. You'll want to run a RAID-0 array for speed with a hardware RAID card if you're doing anything more than just family videos. I'd recommend picking up some Western Digital 1TB RE3 drives with a nice RAID card from a company like Areca, Adaptec, 3ware... or Highpoint if you're on a budget.
One of the biggest concerns of editing video is hard drive throughput. Once you get several layers of video up and you're trying to edit, a single hard drive struggles to keep up and you'll often get errors and crashes. This is why I'd recommend RAID -- for the speed you need. I used to do professional turnkey video editing builds and people always wanted to skimp on the budget for good hard drives and RAID cards. I often came back and had to install them a new storage array with a good RAID card because they'd consistently get errors or crashes once they tried to edit several layers of raw video.