Cityman,
I've tried Premiere 7.0, I tried Movie Maker 2, I tried a couple other video editing software applications..

The one I found the easiest was studio 8 by Pinnacle.. It was so simple to compile, edit, cut, add effects, etc...

With Premiere you have to be a damn pro and get ready to read their manual.. just to add simple transitions..

Studio 8 I could compile a video with 8 or 9 transitions, fade ins fade outs, diamond fades.. screen scrolling right or left.. beginning title, ending credits and all in under 20 or so minutes..

I highly recommend it if you are looking for simplicity. If you want something extremely powerful and complicated go with Adobe Premiere.. It is for the pros..

And Premiere is very powerful with nearly every option you can imagine.. and it has plugins galore..

You just have to learn a bit more...