So I got a JVC  Everio camera and I can honest say video editing software sucks.  JVC has a version of PowerDirector and it can't do what I need.  Windows Movie Player can't either.  I can cheat and use my MacBook Pro and use iMovie.  I found a nice little program called SDCopy that transforms the crappy .MOD format to Mpeg2 which is handles the proprietary format of the JVC camera.  BUT iMovie can't handle mpeg2 without a $20 encoder/decoder for QuickTime..  Which then means I would have to transcode the mpeg2 to divx (or something else).

The JVC software is horrid.  I mean, like, someone please shoot me.

Windows Movie maker ALMOST does it but lacks the ability to speed up and slow down tracks.  This is why  I can't use it.  iMovie does have this ability.  Update:  Windows Movie Maker can do this but it is very restrictive.  Slow up 2x or slow down 2x.  This is in the Effects section.

HOWEVER, I did find out iMovie HD 6.0.3 is having issues importing a larger divx file.  Come on, it is only 320 MB.  How the hell is this seriously suppose to edit people's home movies if it can't import a 30 minute long video?  Why don't I upgrade to iLife '08?  Cause I don't want to spend the money.

On the upside, I do know I finally found something that can max out my quad-core computer.  It is called movie editing.