I just got my copy of the Apple iLife 09 suite two days ago. iLife 09 contains, among other software (like iPhoto, iDVD and iWeb), iMovie 09 which is a significant update to the previous versions of iMovie, video editing software. The Gizmoto review of iMovie goes through the new features of iMovie.
The features of this simple little consumer level video editor are pretty amazing. It comes on new Macs and costs $79 to upgrade to iLife 09. I'm by no means a video production geek but since I got my Canon G9 last spring I've been paying more attention to the video editing software. And I suspect cameras like the Canon 5DMkII and Nikon D90 are causing other previously still only photographers to start being more aware of video editing software. The standard Pro video editing software is Adobe Premier CS4 and FinalCut Pro 6.
For typical short clips introducing Realtors and doing home walk throughs iMovie 09 seems to be all you'd ever need. The feature I find attractive is the software image stabilization. It will analyze a video clip and process it to take out the bobbing and swaying in the clip. This feature seems like it be really useful for those that want to do video walk throughs.
I'd be interested in hearing what software windows users use to do video editing.