The new and improved version of Windows Movie Maker is now available for free download for all users of Vista or Windows 7. Alas there is no support for Windows XP. The new version of Movie Maker now has the ribbon interface, you probably know from Office 2007 and other Microsoft software.
I haven’t had the time to properly test it, but if you are looking into video editing and haven’t got the funds to get some nice professional software, you might give it a try.
You can download the software from the official Microsoft Windows Live Destop site.