Macbook Pro 13" Retina Base Suitable For HD Editing?

I'm really excited to hear about the new Macbook Pros and this may be the year I jump on the Apple train!

I was wondering if anyone had any feedback on how smoothly editing HD videos would work on the base model. By video editing I mean things like cutting, splicing, and adding audio to a video file. When I go on vacation, I like to splice together short videos of the experience and add an audio track, and would much prefer to do it on a portable notebook versus waiting to get home to a computer and a stack of videos.

If anyone has any feedback on how the Iris Graphics would handle 1080p video, I would very much appreciate it!

Thanks in advance.