Who knows what the OP of this thread is pointing out' Video or PIC Editing - I've gave my input into Video but if you're into PIC Editing - Might I suggest "ACDSee Pro 2.5.363". It's so old Adobe hasn't desecrated it and recognized as a free hack.
I'm still an old PSPv9 and ACDSee user for PIC's and stay away from Adobe crap like what they did to Cool Edit (Audio). Abobe Audition Edition v3 is OK the rest Sucks because all Adobe did was Tojan the apps with marketing.
As far as Video Editing an Encoding I recommend either, VirtualDub for starters in regards to AVI and MPG, TMPGEnc or MeGUI for Mpg4 were as a lot of other Pro's recommend Handbrake which I've never personally used but assume very good.
Just about all Video formats today are done in AVC/AAC with MP4, FLV or MKV wrappers and it's FREE, basically over the release of MSC32.dll back in 1998 which introduced mp4 video compression where no one has ever claimed patented rights. DviX, Xvid and X/H264 are just a modification to that same Hacker's Video Codec of MSC32.DLL that MS could not legally embed into Windows at the time.
About the same issue happened with the audio Fraunhofer professional L3 Audio MP3 Codec where LAME evolved to encode 128Kbs mp3 frequencies and above. Today we take it for granted but MS OS still protects us from copying write protected Video and Audio Online. Yes there are work a rounds but basically it's illegal.
Does anyone remember DivX3a, MS MPEG-4 VKI DS Filters or XviD and the mpeg4/mp3-ogg or AVI and OGM videos we could make back then with VirtualDub - LOL
We have come a long way but to get a good results you still have to know the basics of Video Formatting.
It may seem daunting at first but all the Video knowledge you want can be found at Doom9.org:
http://forum.doom9.org/