It should come with basic PC editing software (my Canon mv800 had a SE verion of ULEAD Videostudio). Using the DV output > Firewire connection you can control the camera from within the software (FF, rewind etc). It does allow for faster than real time but I'm not sure if your Celeron is up to that, my P4 3gig Shuttle box was only marginally faster. I use VideoReDo
http://www.videoredo.com/en/index.htm to edit the resulting .mpg, it allows me to top and tail and edit out unwanted footage also you can save out individual sections for later reconstruction in something like Videostudio if you want titles and fades etc.