Ive been using Ulead Video Studio 7 for about 2 months now. I do all of my editing with this. Video Studio does not have many features, but it does include features to change the playback speed, add music, add overlays, add filters, and saving to mwv format.
Conclusion:
Id suggest using this editing software for quick editing. If you want to get more involved in your videos, try Ulead Media Studio of Adobe Premiere.