I don't normally deal with video much, partly because of the lack of software, but here are two free/open source editors:
VLMC from the creators of VLC, the Swiss army knife of a media player, has been in alpha (0.10) release for quite a while. Looks powerful, yet simple, but unfortunately, is still a bit unstable.
Just found out about Lightworks. Its a public beta, Windows only. Haven't downloaded it yet.
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