Today only. Newegg has the Serif MVPX5USDPRT MoviePlus X5 (Windows) for $10 with free shipping. Movie editing software features drag-and-drop editing mode, timeline editing mode, over 200 effects and transitions, and noise/shake reduction.
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Decent enough reviews on Amazon, and it seems to be simpler than Vegas, so I'm in.
http://windows.microsoft.com/en-US/windows7/products/features/movie-maker
#2 Movie maker is a little _too_ simpler
This tool has tons of features for $10. Well worth it. Movie Maker doesn't come close.
If FCP7, Sony Vegas, and Corel Video Studio spawned the demon child, this is what it would look like.