Even though I gave MEP 14+ a bad review several months ago, I have to admit that I still use it. Mainly for the Movie Themes (Movie Show Maker) and how it handles MPEGs.
I use some of themes from time to time to add variety to my PRE 7 projects. I export the final theme from MEP14+ to a DV-AVI and import it into PRE7.
MEP14+ also has visuals, which move to the beat of the music, which PRE7 does not have. MEP14+ handles small projects flawlwssly.
To get the clips into MEP14+, I just drag them from the Organizer which I have opened on a separate monitor (The PSE7 version).
The other reason I use MEP14+ is to create DVDs from TV shows I record on my Hauppauge PVR. MEP14+ handles MPEGs much much better than PRE 7, or previous versions for that matter. You can even quickly set up a menu which will automatically take clips from your movie and create a slideshow as a menu background. It is also wasy to replace the soundtrack in MEP14+ menus. This is the quickest and best quality method I have found to bring the MPEG movies to DVD,
PRE7 is definitely without a doubt, the best NLE for me. However MEP14+ makes a great suppliment from time to time.