RE: what's the best video editing software?
Avid by far. Industry standard. I use Avid on a daily basis so I know what I'm talking about.
When you're talking about saving to another format, you are using codecs. Depending on the codec you use, can mean the difference between a good quality video or a bad quality video. If you're going to size it down to send across the net, I recommend either Xvid or x264.
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