Video Editing Software?

[Twinimage]

Anyone know of a good, cheap/free video editing software that can accept a wide variety of file formats that an HD camcorder might record to? Need it for making a promo video.
In the past, whenever I record from a camcorder, I usually end up with a weird file type that Windows Movie Maker won't accept. If I use a video converter, it totally ruins the video quality. GRRRR!!!! 
This is for a non-MUGEN/comic book related project. But it would still be appreciated if I could get some advice/help/direction/etc.
Thanks!

[C.R.O.M. - 有且只有一個]

I need to know this as well.

[HyperVoiceActing]

I use VideoPad. MILES better than Movie Maker! You can actually use more than one audio track!

[Tha Lando ( Le CROM )]

I use VideoPad. MILES better than Movie Maker! You can actually use more than one audio track!

So you can do HD video quality work with that program Hyper?

[HyperVoiceActing]

So you can do HD video quality work with that program Hyper?

Not sure. I'll need to fiddle around with it some more. I just like it better than Movie Maker cause it's more accessible.

[Twinimage]

@HyperSonic: Dude, thank you so much for leading me to this. I still have to record the footage I need, but this looks like an excellent video editing software. Even looks like it may have some color correction functionality. Awesome! XD

Did you pay for yours? There appears to be a free and buy version. Wonder what the difference is.

[HyperVoiceActing]

I have the free version. I'm think it's missing some fancy video effects and transitions but other than that, I can't find anything you're missing out on by not buying

[Twinimage]

How long have you had it? I read somewhere it's only a 14 day trial???

[HyperVoiceActing]

The free version? I've had it for a few months.

It'll recommend you buy the full version when it's up but hit no and you should still be able to use it. It's just that every other time you open it up it'll have a pop up.

(click to show/hide)

Just click the option I highlighted blue

[Twinimage]

Sweet! Thanks

[HyperVoiceActing]

No problem comrade