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This application touts the ability to edit flash video files. As it is free it is worth checking out.
The Master of Emulsion: Flip Video Vlog: A Tale of Two Formats
One would think that a camcorder that is HD and costs $$$$$ would be produce significantly higher quality video compared to a $150 flip camera and an iPod nano for audio. They would be wrong. The video that accompanies the entry does a side by side comparision. There isn't that much of a difference for most people. Thanks @KarenJan for the heads up.
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