Adobe Premiere Elements
A newer version of Adobe Premiere Elements is available.
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Full user review
"Powerful video editor if you have the time to learn it"
Up to 99 tracks available, lots of interesting effects and transitions, better pan and zoom in PrE 10, great for green/blue screen, Smart sound soundtracks that can be cut to required length. Premiere Elements 10 seems more stable than 9 was (I almost gave up on 9, SO many bugs!!). Can link to pics in Photoshop Elements so that if you edit a pic in PSE the changes will be reflected in Premiere Elements.
Does crash at times (make sure you save your work!), not as slick as iMovie (but is more powerful). Has a bit of a learning curve, not particularly intuitive.
I really enjoy using Premiere Elements. I do a fair bit of green screen and it handles this well. You can stack multiple layers (if your computer can handle the processing power), animate objects, make use of multiple keyframes etc. It's worth buying a couple of good books to get you on your way rather than just sticking with straight cut-and-paste a few clips type of editing. I love Creating Hollywood-style movies with Adobe Premiere Elements 7 (all the techniques apply to 10). You can make a superman movie, beam someone in, animate a light saber etc. While you're doing the projects you learn a lot about making a movie.