I want to make an indie film, help!?

I bought a $200 JVC GR-DA30 camera, BUT I have Adobe CS3, so I'm sure I can edit it, and give it the "film" feeling.
No knowledge of what I am doing really from a tech standpoint, but I am an artist and photographer, also acted in several indies.
My real question is, 1.should I expect to produce something worth watching? i have a great screenplay, that can be exicuted on low budget. & 2. How/what program will I use to make and sell this on DVD.
I'll award the best answer!

ok, you have the camera. Good start. What you'll need even more is good lighting. Thats what really makes a movie besides the script. The only thing is, don't expect to make an oscar winning movie in your first shot. It's probably gonna come out pretty crappy. I know mine did. Also, don't expect your footage to look like film. Film has a very high advantage compositionwise over video (light latitude, focus, etc.).

Now, find a crew, a group of friends who you know won't flake on you. Get them all together and plan out how you're gonna shoot everything. Get a shot list and storyboard. Editing can be done on Adobe Premiere Pro, hopefully that comes in the CS3 package. Don't expect to have a whole bunch of effects in it. Keep it simple. If you really want to shoot this screenplay then go for it, just don't expect it to be DVD release worthy on your first try. Shoot it for the experience, then keep shooting other projects. If you want, go back later with all your experience and do it over.

you can always contact me later with any questions you have. I can give both creative and technical help with your project. Best of luck and always keep shooting.