What is the minimum computer I need to play back FZ200 video?

OK, so I am using a relatively new (just kidding) Dell laptop from 2006.  It will not play video recorded by the FZ200 in either AVC HD 720 or 1080 in VLC, and VLC is the most lightweight video player I know to exist.  When I try to play a video, it just stops on a frame, and perhaps gives me motion for 1 second.  The audio is intact, however (and sounds beautiful!).
According to VLC, (at maximum quality) the resolution is 1920 x 1080, the frame rate just under 120 fps, and the stream steady around 28 mbps.

My (now broken) $400 Toshiba laptop (bought in August 2010) could play AVCHD Lite video from my (stolen) DMC-LX5 in VLC but not in the software Panasonic included with the camera.

What kind of specs would a computer to play back video at that rate need?