Dave, are you editing MPEG2 video in that, though? I mean, are you opening compressed files and editing them?

Hmm I'd have to double check that... I capture in mpeg but it might be mpeg4. I'm not sure...

But for free, it works for my stuff. I have an underwater video camera that I take fishing and capture it to the camcorder. Amazing to see all those fish look at my lure then swim off... Pretty neat.

Edit: I just checked my files and they are mpeg1 but the manual for Studio8 says it can capture mpeg2 as well. I'm pretty new to the video capture/edit stuff, so forgive my ignoarance
There are annyoing things about Studio8 such as, it always loads the last project you had open when you start it. That takes a loooooooong time on a big capture (1-2 hours video = 5-10 minutes loading time)
I don't think I could recommend it for just mpeg2 editing, it's done the best for capture for me out of all I demo'd. But I did get the full blown version for free, except for local sales tax... Can't beat that!