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Liquid Pro is the most under-rated editing software out there. It is extremely powerful, and leaves FCP is the dust. Its file management system is the best in the business, using simple Windows folder structures to keep track of media, timeline project data, imported graphics, audio files, etc. Very powerful way to keep everything together, or to export/archive files. Its built-in graphics (Title Deko Pro) is broadcast grade. A zillion effects, including Hollywood FX and Commotion, without even having to buy Boris. Built-in audio with 5.1 surround mixing… and capable of interfacing with XLR analog mics for ADR/foley and a fader controller for honest to goodness hands-on mixing (automated faders even). DVD authoring is also built-in; as is SmartSound music creation.
If you combine Liquid Pro with a very powerful computer workstation, such as the VES/Delta 1000 (which was designed specifically to match the preferences of Liquid & Media Composer), the end results are so good and so fast as to be scarey.
A lot of editors that we know use both Media Composer and Liquid — depending on whether it is an HD video project or a sprocketed film show.