If you are using Windows XP service pack 2 or Microsoft Vista, just use the built in moviemaker program. Reasonably competent and fairly easy to learn. Fine for most things you will be doing.
Here is a link to some video I shot on my Valk a month or so ago in Oregon. Shot with a Viosport POV1.5 and edited in Moviemaker. The fancy 3D titles at the beginning are done in another program, so ignore those.
http://s93795793.onlinehome.us/video/reno_bikefinal2.wmvIf you are using a Mac, then use the iMovie program, which is very similar and will do most of the same things or more.