Well you do what I do (make films) and for editing films or rendering this laptop is very bad.
BUT please dont get downhearted.
They are very good laptops with superb graphics and respectable battery life.
For showing your films around to friends, or to show your teacher your show reel, you cannot get a better laptop for the price.
Believe me I have a more powerful laptop but when I take it to show my business advisor a film it stutters and freezes which your one wont.
That is because the graphics in your laptop are pretty keen.
So use it as a film library as it has got a biggish Hard Disk (320GB).
HOWEVER.
What you need is to get a Desktop PC to do the things your laptop is not so good at.
Before I go on advising you on how to get a cheap desktop (PC in a box, in case you dont know what a desktop is, I didnt once) I need to know if that is is an option you are OK with.
If you must have a laptop and a desktop is not a solution tell me so I wont waste your time.
Desktop is much more powerful and a lot cheaper than any laptop.
Im sure you know that though.