Video Explosion. Been using this product to create a movie. Wow, is it complicated, but the results are great. This editor got a 9/10 from C|Net and it is definitely easier to understand that Ulead.
It is licensed actually from "Sonic Foundry":http://sonicfoundry.com and seems to be a copy of their VideoFactory. This is in turn a crippled version of "Vegas":http://www.sonicfoundry.com/products/showproduct.asp?PID=808. The bulletin board and forum over at SonicFoundry seems to be the place to figure out things.
Main problem now is DVD authoring of menus. There is a commercial product called "DVD Architect", but the bundled Sonic MyDVD needs something called chapter marks in the MPEG2 file that Video Explosion/VideoFactory outputs and I can't figure out how to create these.
These things really shouldn't be two products BTW. So, the search for the right PC product continues.