Starting to edit again after long time away and will be hopefullly be working with some 50D raw footage as well as 70D vidoes. Sorry for the rookine qustion by the way. Are there are any substantial gains of having 16GB of Ram and a dedicated GPU given Maverick's memory compression and the surprising fast speeds that the Iris Pro benchmarks show? I was going to get just the 16GB upgrade but for another $300 bucks I can double my storage, up the CPU from 2.0 to 2.3 and add a dedicated GPU. All toghehter it's an extra $500 with the student discount and I figured if I add the Ram I might as well get the top of the line stock for $300 more. Sorry for the rookine qustion by the way.
For FCP7, not so much, but for Adobe Premiere, Avid, or FCPX, I would say, yes, you'll see worthwhile improvement. FCP7 wasn't written in a way that can take advantage of increased GPU or RAM beyond a point.