The best video editing applications have tools that allow you to capture, edit and produce videos recorded by action cams like GoPros and Drift Innovation’s Ghost-S. These tools are generally as good as or better than the ones in the software that comes bundled with the cameras themselves. You can use them to stabilize shaky video, correct fish-eye distortion, enhance color, and pan and zoom around your footage. They can even slow down and reverse the video.
BTW, for whatever the reason, Canon still does not include a lens hood with the bundle. A bit odd that. So factor in about $35 for that (note that the hood from the older 18-135mm lens included with the 70D won’t work, you’ll need the EW-73D). Plus don’t forget you should really add a UV filter to protect your lens. I recommend a 67mm B+W (Hoya is good too) which won’t break the bank.

Avid Media Composer's latest version comes with a wealth of new and improved features, such as accelerated high-res-to-HD workflows and automated media management to handle background media tasks while you focus on your creative vision. The $999 price tag is steep for amateurs, but worth it if you're looking for a professional-grade software. As the editing software of choice for summer blockbusters like Star Trek and The Great Gatsby, Avid Media Composer 7 can handle any editing challenge with ease.
Blender is mainly 3D animation program but it has the best video editing and compose tool set that is hard to compete with. You can download this software on www.blender.org. The best thing about Blender is that they are always improving, new versions of the programs are released extremely quickly, and there are new and exciting features. It is also a difficult program to learn, but once you get used to it, you can do everything you want with it. Blender has a new rendering engine which is called Cycles and it offers amazing and realistic rendering. The modeling tools are easy to use. You have keyboard shortcuts for a fast workflow. With this software you can transform a model into a real character in just minutes. It also offers amazing simulations, whether you need rain, fire or hair that blows in the wind.
When it comes to video editing nobody wants to spend hours mastering nuances of video cutting techniques. All we usually need is to place several pieces together, add some fade-ins and outs, include subtitles and do this with as little efforts as possible. At the same time nobody wants to compromise with the final quality of the video. Indeed, simple not necessarily should mean primitive. VSDC Free Video Editor is a simple and easy to use video editor featuring a lot of functions even a pro editor wouldn't be ashamed of.
Aside from video, images and audio can also be incorporated into your project by simply dragging your desired multimedia into the project area and arranging them in timeline-like fashion. The resulting video can always be previewed in real time, as well as any effects — themes, text, music, voice-overs  — before exporting the file directly to YouTube, Facebook, or a wealth of other platforms.
Apple’s revamped video editing software boasts speedier performance, a friendlier interface, auditions for alternate clips, good organization tools, powerful new multicam support and support for both Thunderbolt and studio-monitor output. While you can’t import projects from previous Final Cut versions without a third-party plugin, this new software is a consumer-friendly upgrade to a pro-level Mac editor.

The Dazzle Multimedia DM4100 Digital Video Creator is very useful to import video from your TV, VCR or DVD player into your PC for editing and then converting to PC video formats. The device is exceptionally good for making videos for use on the Web or as e-mail attachments. Thanks to its use of USB its very simple to install and can be "hot-swaped" with other USB device without rebooting your computer. 
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