One of the most wanted applications missing from the free software stack, is a video editor for Linux - PiTiVi is just that! PiTiVi is a free and open source video editor based on the GStreamer multimedia framework and the project has just announced the first release in the unstable 0.13 series. PiTiVi has 3 developers working mostly full time: Alessandro Decina, Brandon Lewis and Edward Hervey.
PiTiVi does one thing very well where earlier video editing application have failed - usability! Usability has very high priority for the project. Personally I love the drag-and-drop demonstrated in a screencast (by Jean-Francois) that shows off the latest features of PiTiVi… and of course edited it with PiTiVi. You can find it in ogg or on youtube.
Work has already started for the next 0.13.2 release which should be available just before the Gran Canaria Desktop Summit in July with exciting improvements like: transitions, mixing, effects, more speed/memory improvements…
There's also hope for a video editor land in Ubuntu in the near future (possibly Karmic+1). A blueprint titled desktop-karmic-video-editing will be discuss at UDS.
If Ubuntu included a true video editing software with DVD creation capabilities would be fantastic. Ubuntu has specific application to please most of the desktop user out there. The multimedia creation department is one of the few lacking areas.