You're not going to find much that's freeware, but if you're willing to spend money, there's a few packages thats worth a look.
The best one I've used is Avid, industry standard. Although Dead Man's Shoes was actually done using Final Cut Pro.
Movie Maker isn't too bad if you figure out how to utilize it well. There's tonnes of tips online about using split screen and such. Although a way to reverse the film so that it plays backwards is yet to be achieved, but I would probably use a different program for that anyway. I used Movie Maker to do some of my music videos. In fact, I have got a lot of positive fanmail from my Zelda one, and even more positive comments from those who didn't email me, but left comments al around the internet.
I got a free version of Adobe Premier that came with my Firewire cable. It's not as advanced as the expensive versions, but I think it's very good, especially when compared to Movie Maker. If you want to make films using a camcorder and don't have the proper cables,... then perhaps you should buy hardware that has free adobe software in it.
Well it sucks my computer has fire wire cables and i am short 512 ram. i have a chip but it is pc133 and my computer takes ddr3200 dam. time to dig out the acer. And i bought it all redy thats how i found out i am low on ram
vidcrop is great tool to do basic video editing, but its commercial.
you can download a trial version to see if it will do the job,
but you get the 'vidcrop' watermark on the output.