Its fundamental strengths lie in the fact that you get a full suite of editing tools thrown in, including video composition. Mediastudio is marketed by ULead as a professional editing tool, and to be fair to them they have been relatively successful with that in the Far East and to a lesser extent in the US. It was the first NLE with HD Support.

In my view its biggest weakness lies in the fact that it has fallen behind other NLEs in terms of its usability and in particular its user interface. But it is still a powerful product. Ulead have been saying for months that an upgrade (Mediatudio8 ) is imminent. Apparently the entier user interface has been re-written. I have seen soem screen shots and it most certainly has been re-written. In fact its almost more like Premier (Elements) and Vegas in that regard.

Very powerful packkage though, try the 30 Day trial download from www.ulead.com and see if its for you!

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IBM A51p with 160Gb Boot Disk, 160Gb external Firewire Disk, 2Gb Memory and a super duper sound card, 17\" TFT Monitor etc etc etc
Sony TRV33e : Sony TRV310e : Canon XM2
ULead products mostly including Mediastudio Pro (V8.0), Video Studio 8, Movie Factory 2.0, Premiere Elements

Remember, there is always more to learn than there is to teach.