Your machine is fine. Nothing too crazy, but it gets the job done. You should be able to play most, if not all, modern titles at 1080p resolution with 60 fps if you are ready to scale back details a bit here and there.
You should be fine for next 1-2 years. After that, you can still get a new GPU, just wait what will come until then. Apparently Intel is getting ready to launch GPUs for gamers and AMD should have something to go against Nvidia at some point. Even if both AMD and Intel can't quite catch up, it should at least help to bring prices down a notch. Right now is about the worst time ever to get a new GPU. edit: Okay, it was even worse while all that mining hype was going on, but you get the point. Nvidia has just about no competition in the high-end segment and prices just skyrocket into infinity. =D
As for editing video, I would strongly suggest to upgrade your RAM to at least 16 GB. Video editing can be a pain in the ass with little system memory.
Official member of VGC's Nintendo family, approved by the one and only RolStoppable. I feel honored.
