virtual dub and avid free are the cheapest solutions. (freeware)
final cut pro and avid full are industry standard for most high end post production.
Adobes premiere used to be great in the 90's but is not as crisp as it used to be.
Having used all mentioned above for years and having purchased and owned FCP 3/4/5 i think its leaps and bounds over AVID, however AVID is used still today in a lot of tv stations, its special effects MOJO package is another $3000 which are features common to FCP out of the box.
imovie and fcp express are lower mac packages, but if your windows editing virtual dub or avid free will suffice for simple editing.