Sony Vegas Movie Studio was a good program I once used to splice/edit/add effects and text to video.
It was pretty easy to learn and only cost like $60 for the software. You could probably get a torrent of it.
Tried the Adobe software, it seems kind of complicated, but endless possibilities there. Vegas was simple and fully functional, can slow, speed video, pan, zoom, crop, fade in, fade out.....you name it and somewhat intuitive to do so. You might need a video converter to convert file types of downlaoded video into something Vegas can open and use. Vegas also has good audio controls for sound and makes excellent dvd's or internet videos. Main thing is that it is nice software, cheap, fully functional and simple to use.