I've been struggling with the quirks and limitations of Adobe PE3 and now PE7 while editing h.264 clips and in my frustration I did a search for other editors. And turned up "AVS Video Editor" from AVS4YOU.
http://www.avs4you.com/AVS-Video-Editor.aspx
This is an interesting piece of software, and is remakably complete (with some exceptions... see below). Right off the bat, the layout looksfamilair, intuitive and is easy to use. It has most of what you would need for editing video (timeline, sceneline, trim, import, export, etc) and some of what you need for authoring DVDs. But in my mind its main claim to fame is that it seems to edit compressed h.264 (MP4) files natively. It does not create the flurry of rendered files and preview files and media cache files that PE does, so your hard drive is not filled as you save multiple versions of a project. And the resouce usage is VERY light. I placed about 30-40 h.264 clips on the timeline (totaling about 2.5 hours) and according to Task Manager, the RAM usage was still under 1GB. And stayed there as I edited, scrolled, etc. This is on a 3GHz C2Duo but it runs just as well on my 1.5GHz Centrino laptop.
The download is free, fully functional and unlimited except for a logo on all saved files. The cost is $39 for a one year registration or $59 for an unlimited registration that does not expire. And either registration includes the use of ALL software from AVS4YOU.
Here is a quickie list of the pros and cons I have uncovered as I play with it.
Pros
1. Appears to edit h.264 (and possibly others) natively.
2. Supports just about every video format.
3. Very low resource usage (my system reports <1GB total while editing a large project consisting of all h.264 clips).
4. Practically no temporary files are generated during editing so saving multiple versions of a project does not take up additional hard drive space with rendered files etc. .
5. On a 3GHz C2Duo, h.264 previews look very smooth.
6. Many useful and intuitive features including timeline, sceneline, trim, etc.
7. Huge selection of video transitions and video effects.
8. Rudimentary DVD authoring built in.
9. Cost is very reasonable. Registration includes the use of ALL programs from AVS4YOU.
Cons
1. No audio effects. Video transitions produce a simple audio crossfade of the same duration but no audio processing beyond that such as keyframe based level shifting.
2. No editing / control over DVD menus beyond the ability to change the background image…. what you get in the supplied templates is what you get.
3. Chapter thumbnails use the first frame in the chapter by default, with no ability to select the frame. The program considers the first frame of a transition between chapters to be the “first frame” so the thumbnail ends up being the last frame of the previous chapter.
4. All edits, transitions, etc are saved with the project but the DVD menu structure and setup are not. Accordingly, the DVD template and background image(s) have to be reset every time the DVD authoring section is entered.
5. Does not seem to support DV-AVI unless I missed it.
I'd be interested what others think about this software.
Paul