The screen resolution would be fine. However, the hard drive is a standard 5400rpm drive and it only comes with 4gb of DDR3.
The processor can handle the editing, however the drive speed and the amount of ram will limit you. Good news is, that for VERY little cost you can upgrade this unit into a BEAST. I personally use it for Photoshop, Lightroom and Premiere! For roughly $35 you can add a 4gb stick of ram. This will make things much smoother. For $109 of BB's website you can upgrade to 16gb of ram (what I use). This laptop can use that ram without any bios or firmware updates. (This is nearly unheard of at this laptops price point.)
If you really want to smooth out the editing, then you need to upgrade to a ssd. For about $70 you can get a 260gb ssd. For another $15, you can get a 2.5" case with transfer cable and software. Load the software, and follow the prompts to clone your drive. It is literally a 3 mouse click job. You'll transfer your OS onto the new drive. Then install it in the computer. You will end up with a 260gb drive and a 1tb back up drive. I spent about $190 on upgrades but my system rivals any mac in terms of speed and beats any pc at more than double my total cost. I've "benchmarked" my unit so my claim is not speculative...it's actual. Value for your dollar, this cannot be beat. The machine is smooth and flawless.