No, I would go for the sound card, not the integrated solution. What I was saying is that you should not use the firewire port on the sound blaster card to hook up your firewire drives or camera. Get a discrete card---one that has a couple of 1394 ports. You can check this one out for 50 dollars--has the TI chipset
http://www.videoguys.com/pyro.htm (Scroll down its on the lower left hand side of the page here is the ad--Attention Avid editors: PYRO64/ PYRO PCI 64 / API-311 is one of the few Avid-Approved DV in/out PCI cards for your computer.
The OHCI-compliant card and cable work flawlessly with Avid XpressDV. It features the latest in chip technology from Texas Instruments and supports 64-bit PCI slots.
* Avid Approved for XpressDV 3.+
* 64 bit PCI compatible
* Capture and Edit Digital Video
* OHCI-Compliant
* Three external 1394FireWire ports
* Transfer data at 400 Mb/Sec.
* Connect to Hard Drives, Printers, Scanners, Cameras and more
* Card only - no additional 3rd party software
Pyro PCI 64 $50.00
You just throw it into an open slot, plug in your external drive, camera or tape deck and you are good to go.
Again, do not buy Premiere 5.1. You will be very unhappy. If you are going with an Adobe product, then do yourself a favor and get Premiere Pro 6.5 its much more stable and has many new features.) If you aren't committed to Adobe, then look at Vegas Video and DVD Architect. In my brilliant piece of software for video editing. Its rock solid. I just finished a piece for PBS using it exclusively
Again, its hard to recommend something when I am not sure what your final goals are. If you are merely going to edit home video, then you could go for a cheaper system and software. If you are going to cut your teeth and hope to become adept at editing, then the above should give you a good start and leave you plenty of room to develop your skills.