I'm a Gamer, Is this the right Set up?

I'm starting a youtube channel, I'm a gamer. I decided to make a Youtube channel just because of the fun of it. I heard some people can make money for playing games and putting it on youtube. I've seen to amazing gaming montages where they did pretty much hours of editing and gathering the game clips.

By March I'm getting a HD PVR 2 Gaming Edition to be able to record my games. (My Budget is only $200 which the PVR takes up that amount) I have a PC, Windows 8. I have Windows Movie Maker, and ArcSoft Show Biz. Any other better Video Editing Softwares out there (Free to use) I will be recording Xbox 360 Gameplays.

List of what I will be recording:
Minecraft Download Map Reviews
Black Ops 2
Minecraft Survivals
COD: Ghosts
GTA 5 Weird/Funny Moments
Sniping/Trick Shoting
Xbox Live Talents
Advice/Live Commentaries
Q&A
List Goes on

So am I at a good start? Any more Video Ideas It will be great, I'm not planning to be big or anything. Just for fun

Well you should start out with fresh gameplay not the usual stand out. For a gameplay recorder get an elgato it's the best out so far. But your idea is good

Just a bunch of related ideas: unboxing videos - game cheats - tips and tricks etc.
I found a great "how to" guide to record an amazing xbox gameplay