I am past using basic programs like windows movie maker, but I just can't afford to buy anything better. Currently I use ZS4 which is free to download and tonnes of features, but the program has so many problems its a nuisance to use.

Are there any editing programs around that are free and actually good for doing some serious editing with precise clip placement and complete control over effects?

Thanks

The most professional of them all is Avid's Free DV - check it out www.avid.com/freedv/