What do I need for Video Editing

I need to buy a macbook pro for college next year and I will be editing video. I've been looking at the retina display macs more because I like the flash hard-drive. I already have a 2TB external hard-drive so that will cover all movie and music needs.
My question is though will 128GB of flash storage be enough to hold all my programs, Final Cut Pro 7 or 10, Apple Motion, Adobe After Effects, Adobe Photoshop, maybe even Logic pro. Last time I checked I couldn't find a way to save these programs to the removable hard-drive. Also, would it be better worth my money upgrade from the i5 processor to the i7 processor?

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