Comment no real winners (Score 4, Informative) 163
My desktop power user workflow wrt video is:
cat (unix command) to piece together the 2gb splices the camcorder makes (avchd)
ffmpeg to change the container from whatever the camcorder uses to a more editor friendly mkv, you can use the copy option for blazing fast remuxing without reencoding.
kdenlive or cinelerra. They are both prone to crash so save often. Cinelerra has best curves for fading but it's a very peculiar GUI.
If you know your stuff, you can do pretty decent videos.