An open source video editor that shows promise.

[Ecuadorian]

I've been following for some time the development of OpenShot, a video editor that currently has installers only for Ubuntu, but the developer is taking great care to not include anything Ubuntu-specific in the code, so he can later compile it for other operating systems.

Check the blog, and if you use Ubuntu, try the current beta:
http://www.openshotvideo.com/

So far I must say that it's already way more powerful than Windos XP's version of Movie Maker, and far easier to understand than Adobe Premiere (at least the last trial version I tried).