How are you planning on storing these eventually? If you'll be burning DVDs, I appologize, but I take every opportunity to plug DVDlab, one of my favorite programs I've ever used. I love the philosophy it takes, which is that all other DVD creators have terrible interfaces that claim to make the process easier, but do nothing but screw things up. This is how it should be. Plus, they don't rip you off on the price.

And yeah, Virtualdub is probably the best option. I'm still waiting for a DVDlab-like solution. Basically something that isn't bloated, has a logical and clean interface, and costs somewhere around the $100 mark.