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Windows Movie Maker is good. My only gripe with it was it doesn't give too many codec options and kind of forces the user to use the Windows Media format. That's not a big problem for most uses, but I prefer XVID. I haven't really found any other good free video editors.
I also have to give MS kudos for their free Visual Studio Express versions, which is a great way for beginning programmers to get some experience. I wish they'd had those when I was in college.
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