When it comes to video editing, I've delved into both the free and paid area. I will admit to the fullest that paid is better in the fact it gives you FAR more options. (I would have never been able to make my "backwards videos" without it.) In the end, I have Pinnacle Studio and Windows Movie Maker 2.26. (Most stable version, period.)
Pinnacle Studio is my paid one. It's what I used to record plenty game footage back when I was attempting Let's Plays. (Short version, sucked at it and I have quit in the end.) It offers me tons of great options. It allows me to play with audio and get some good editing options. It's also what gives me some great precise timing for all the photos I have provided. (Seriously, the stuff you can get if you just time it right.)
Windows Movie Maker can help me with a few other options that are just not available in Pinnacle, despite all it offers.
I've also made a few music videos. I can show them off if you like.

I don't do much video editing, but when I do, I make sure to make it count.