On the scrolling options, the i5 CPU is preferred (the i7 is not that better for the money in this instance).
You can add a second 500GB hard drive (unless you really need it, I wouldn't bother with the RAID options) for extra space and/or backups.
Depending on your editing needs, you might consider taking the 8GB RAM option (2 x 4096).
That lot comes in at £759.
Generally I would recommend a self-build for certain reasons, but in some ways it's easier this way. You can probably get a similar spare hard drive for much less than £140, but if you are not inclined to install it, then your options are limited.
Bear in mind there are no speakers, and no mention of sound on that system. Might be owrth a quick call to Dell to see if there's onboard sound on the motherboard. If not, add a sound card too, and it's £809.
For video editing you generally want lots of RAM and CPU, and probably HDD space. Unless dealing with really high-end 3D stuff, the graphics card is less of an issue.
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Scottish Labour politician: “The SNP are on a very dangerous tack. What they are doing is trying to build up a situation in Scotland where the services are manifestly better than south of the border in a number of areas.”
Interviewer: ”Is that a bad thing?”
Scottish Labour politician: “No, but they are doing it deliberately.”