Microsoft just released an update version of the popular Windows Live Movie Maker, part of the Windows Live Essentials installer. With this update, Microsoft focused on simplicity and user friendliness. More effects, transitions and editing features are promised along with a big bad YouTube import button.
As you will see in the presentation movie, Windows Live Movie Maker offers a way to create your own personal videos within minutes, without hassle or extended computer knowledge. The sad thing is that Windows Live Movie Maker is not available for Windows XP, so booo there right?
Anyway, watch the presentation, download it and play around.