How important is the graphics card for video editing?

Some say the graphics card is important. Others say it's not so important, that the overall speed of the chip and hard drive really matter.

Here's my configuration if it matters.

Intel(R) Core(TM) 2 Duo processor E6600 (2.4GHz)

Nvidia Geforce 7500LE graphics card (this is an OEM card)

 2GB DDR2-667MHz dual channel SDRAM (2x1024)

 320GB RAID 0 (2 x 160GB SATA HDDs)

performance

 LightScribe 16X DVD+/-R/RW SuperMulti drive

 16x max. DVD-ROM

 256MB NVIDIA GeForce 7500LE, TV-

 Sound Blaster Audigy 4, 24-bit ADVANCED HD Audio

 15-in-1 memory card reader, 2 USB, 1|||Yea its important to a point, if you don't have a good graphics card, then the video might come out choppy and have other problems. But your video card is perfect, so you don't need to worry about that. The processor and amount of RAM is more important than a video card.|||lol usb memory card reader? how about mouse & keyboard?|||graphics cards help video editing become smoother, i think the best graphics cards for this are ati all in wonder cards your configuration seems fine but nvidia is not much of a video editing company to me.|||Your card will work just fine.