Adequate RAM: In most cases, this should be as much as you can afford.It requires both the OS as well as the application to support 64-bit architecture.
If you are going to transcode footage, try to look for modern codecs (many of which have yet to be converted to 64-bit versions). Transcoded footage has less compression applied, so it puts a higher demand on your storage system. Editing with native DSLR files puts a greater strain on your processor, since there is more work involved in decompressing the files. The most recent version of your software should be the fastest. Let’s look at a triage list, in order of importance. But there are some issues that are pretty common performance barriers. There are lots of combinations of hardware, software, setup and workflow practice, so there is no single method to find the bottlenecks. When considering performance, you should try to figure out which components are going to slow you down the most, and fix those first.