The current crop of low-end non-linear video editing systems are basically
toys.  They are useful in that they give you a look at what the future of
video editing may likely be, but their limitations are simply too great for
anything like meaningful work.  (Although I saw a tape produced with a
Hasbro?  KiddyCam?  system recently that was quite good, l00-line resolution
and all; just proves--again--that content is far more important than
technical quality.) Among the low-end products that is worth a look is
Adobe'sPremier 2.0; it has some promise.
 
The lowest cost system acceptable for professional work at the moment is the
Avid Media Suite Pro; 30 fps full-motion, full-frame video, with 3/4"
quality output to tape.  System lists for $9995, but you need a Quadra 950
and one or more 2-gig hard drives to make it operational; about $24,000 (but
talk to a hungry dealer).  Its biggest limitation is that it does not
generate an EDL; however, there is reportedly third-party software that does
provide EDLs.
 
Your best short-term bet is probably one of the computer-based editors that
utilizes tape decks as source and record; they are still useful, in spite of
the rush to the "new" technology (film--remember that stuff--has had
"non-linear" editing for 100 years).  The NAB show this month will have some
new products; perhaps there will be some pleasant surprises.  We're all
waiting.
 
PJO