Tom, I know how to Google search. I also know there are FReepers who have knowledge and suggestions. I like to tap into that.
I use Vegas Video. A really good program. I think that the basic version is pretty cheap. It is the same but with a lot fewer features. I don’t know much about the basic version. Look it up on the Sony website.
I use the professional version (now in HD). It can render to AC3 5.1, PWM, and of course MPEG2, WMV, etc. Lots of fancy transitions and effects. It has a pretty decent audio editing tool with lots of filtering, too. Lots of video tools, text, titles, etc. green screen is cool. Fade in and fade out.