From Avery Lee:
VirtualDub is a video capture and processing utility licensed under the GNU General Public License (GPL). It is designed to be a general utility that can trim and clean up video before exporting to tape or processing with another program. It does not possess the editing power of a general-purpose editor such as Adobe Premiere, but is streamlined for fast linear operations over video. It has batch-processing capabilities for processing large numbers of files, which you can extend with third-party video filters. VirtualDub is best at processing AVI files, although it can read (not write) MPEG-1 and handle BMP image sets.
What's new in this version: