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What You Need:

In the past, video editing required the use of special arrays of electronics designed specifically for the task of managing the video edits. Many studiobased systems—including some still in use today—are linear editing systems, which are more or less limited because video can be cut and spliced only as you move from frame to frame and sequence to sequence. For the most part, this sort of editing requires that you have recorded your elements mostly in sequence (or that you build a rough cut of that sequence, which is simply a pasting together of the main elements of your video or film in the sequence in which they’ll appear) and that you then intercut, overlay, or otherwise edit your video and audio within the time constraints of your rough cut. Of course, some human editors are adept at linear editing and don’t find it all that limiting.
Computer-based editing systems allow nonlinear editing (NLE). In this case, you don’t necessarily need a physical rough cut of your presentation; instead, you can work with clips stored in various places. Once those clips are digitized (turned into digital computer files), you can apply a time-honored computing tradition to the world of video editing—cut and paste. In other words, with NLE, you’ve got a bunch of flexibility when it comes to how you shoot your video, how you arrange it after it’s shot, and how you ultimately cut the video together and add titles, transitions, effects, and so on. The editing process has become relatively less expensive over the past few years. Whereas professional-quality NLE systems were tens if not hundreds of thousands of dollars just a decade ago, the steady march of computing technology has changed that over time, so that even analog NLE systems can be acquired for perhaps only a few thousands dollars over the initial investment in your computer.
Digital video (DV) has changed that equation even more. By offering near-professional quality (some say it’s perfectly fine for professional use) in a form that is already digitized, a DV camcorder makes it possible to do nonlinear editing for free with software that ships with many computer systems (using Windows MovieMaker and Apple’s iMovie). You can edit at a prosumer or even professional level for well less than $1000 by adding software to a computer that’s equipped with an IEEE 1394 port and enough processing power to run the editing software. That’s just about all it takes.