It has all you need: two video tracks and two audio tracks plus a handful of real-time effects, titles, drag-and-drop editing and suchlike. It may not have dozens of pointless transitions, but what it does do, it does solidly and professionally; this is by the same people who make software for studio work.
You’ll need to complete a registration form before you can download it, other than that, this is a completely free version. Note: it is Windows XP only.
I could have put that on the above post, but hey i wouldnt have got +1 if i did that

In fact i might have a bit of a tinker around with it now.