Mike,
You should break the project into several smaller projects. Before Wedding, ceremony, travel, reception, etc.
I wouldn’t render each event one to be brought in later. I would only render once, when finished.
I would take ‘snapshots’ of my color correction, so I could maintain consistency in a given environment. (i.e. all the church shots match, the outdoor shots match, and reception shots match.) Save all your color correction fx chains so you can quickly add new events from the same camera/environment.
Plan your work well, so you can render overnight if need be. That processor will be sufficient as long as you don’t expect highly treated events to preview at best quality.
Jeff
2-Xeon X5680 @ 3.33, EVGA SR-2 Mobo, 48GB DDR3, GTX 580 3072MB, 16TB Attached Storage, Win7, Vegas 11 x64