How to download video footage from the sony z7 to adobe premier cs4 firewire

Hello,
i am very new to this whole camera /video edting thing. although i know quite a bit about video cameras and the basics of editing in Premier CS4, i would like to know the correct sequence of transferring my 1080i footage from my Sony Z7 (tape - still need to get a good/fast high capacity card) to my notebook via firewire.

sencondly, i would like to know how i could best use my notebook to edit work as i've just about blew my entire budget on my camera and peripherals. my notebooks configuration is: windows 7 32-bit; Intel Core Duo P8800 @ 2.66GHz; 4 gigs RAM.
is there a way of using a lower definition or more compressed footage file while editing and then redering it out with the high definition files at the end? if so, how can i do this?

thanks much!
~andre

Short answer is NO. You can not use a lossy compression and then restore to the original. The key word is lossy, you loose data to make the file smaller. You can't get back what you lost.

Maybe trees is not the best idea for a man that struggles for wood?

** Clubs Wingy over the head with a live baby seal shattering his skull**

Looks as squidgy as Linda Lovelaces labia to me