I need advice on buying something to edit with.

A few weeks ago, someone gave me a used camcorder to keep.

Its analog - A Panasonic Palmcorder IQ504. Its not great, but its free and in excellent working condition.

Besides this, I dont own any other equipment and I'm anxious to get into filming and editing shots for practice.

The money that I am saving will go towards buying a new computer first as that is what I need to upgrade right away. The computer that I currently have is an iMac G3, 333Mhz, OS9.2.2.

I have a copy of Adobe Premiere for my computer, but I have yet to open it because I dont have any footage to edit. I also dont have a digital camera.

My plan is to buy an inexpensive video editor now while Im saving to buy a much nicer, digital camera later and editing suite later.

Ive seen some really cheap video editors on Ebay for sale. Can anyone recommend something to me?

I have been having a hard time figuring out what I should pay for a video editor as doing a google search does not bring much up.

If its under a $75, that would be a very economical way to practice shooting and editing until later in the year when I can afford to buy a Digital Camera.

Any advice would be great.

Thanks!