Can I create front-end editable user profile pages with WordPress? How do I do it?

I’m trying to build a WP site where using the front-end, each user can:

1. Register through the front end using basic fields
2. Log in
3. Create their own profile page using multiple forms
4. Upload text, image and video data using profile forms
5. Create work related information (portfolios made up of images and video) that are separate from profile forms
6. be able to edit both profile and portfolio related information unique to their own profile only

So to summarise, we are talking about 2 separate types of information:

A) user profile information that can be updated anytime after registration

B) Portfolio information that uses various media to create a front end profile for the user. This should be editable and updatable via the front-end after registration too.

So Is this possible to do with Wordperss?
What tools and approaches would you recommend?

Rarely do I answer question with simply a plugin recommendation – and I’d never recommend a commercial one – but since there’s a really good plugin for the task of front end profiles/login and such out there, I cannot let it go unmentioned:

Check out Theme-My-Login by Jeff Farthing.

There ain’t no better solution. It’s well-written, flexible, timely updated and easily customized.