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“Do we need to do our graphics inside the editing program or outside?”
If you purchase a professional editing bundle, like Final Cut Studio 2, you’ll find that each program within the bundle is geared toward a specific task. In FCS2, Final Cut Pro does the cutting of the sequence; puts together all the stuff you shot into a sequence that makes sense. That’s usually where you start. Then you send it to Soundtrack Pro to do pro sound editing if you want. Then if you want graphics, you send the timeline to Motion. There’s other programs too, but I’m sure you get the hint. Also, the program that is used for the construction of the sequence, FCP in this case, can sometimes do audio editing as well, just not as intense as the program made specifically for it. Same thing for color correction capabilities.
“Do we buy an editing program that includes graphics or buy a graphics program seperately?”
I’m sure this was answered in the above paragraph, but just to emphasize: get an editing bundle if you plan on editing in a lot of areas. Look for a bundle that has the video editing, sound editing, graphics, and DVD authoring as a minimum. You may be able to find some that offer really good color correction/grading as well.
Some examples of top notch editing bundles are Final Cut Studio 2 and Adobe Premier CS3. I’m not exactly what’s included in Adobe’s bundle, but Final Cut Studio 2 has much more than the bare minimum. I highly recommend it. I’m sure other’s have their own preferences as well, but I’d recommend Final Cut. It’s becoming more popular in the industry anyway.