HD Video Editing with Blender
Posthis writes "While the VSE sequence module has been part of Blender for a while, the upcoming version v2.46 comes with some new powerful video editing features, like Proxy editing, optimized FFmpeg support, and more. Not many use Blender strictly as a video editor because it's not very straight-forward, but given the fact that it now deals with HDV and 24p footage much more comfortably compared to other OSS video editors, it makes it a sound contender. This new tutorial shows the basics of how to use it as a video editor and put your masterpiece together."
I wouldn't use it for anything more than necessary.