4Gb is plenty for what you want to do with it. Burning home movies may tax it a little bit, but probably not. I used to burn home movies to DVD with an old 2Gb RAM Mac Mini back in the day and it was fine. Blu Ray, which I don't think you can do on a Mac anyway (I might be wrong) is another matter, however.
I am using last years model of Mac Mini these days for music production, and it runs beautifully. It only bogs down when I've got tens of tracks playing at once with multiple effects on them. So I'd say go for it. You could wait and get a better one, or upgrade, but it would be wasted power in my opinion.
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