Been foolin with Pinnacle Studio DV - it's a video editing program that I've been looking at for awhile. It also comes with a firewire port for capturing digital video... it's a software/hardware bundle.
I'm disappointed with the editing features. Frankly, I was having more fun with Window's Movie Maker. It definitely has better transitions, video effects and is easier to use. However, the difference in the quality of video is significant with the firewire, and I can export to vcd, dvd, or svcd... I could show you some of the samples - upload them to a website, but we're still - ahem - on dial-up here.
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