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I can’t say that it’s better than Premiere or After Effects. It all depends on how experienced you are in working with video, and what sort of projects do you produce.
Professionals will go with the Adobe products, even though they’re difficult, because they give you more control and more advanced options. But beginners usually stay with Pinnacle Studio or Vegas Video.
Choosing a NLE is not an objective issue. During my internship in a TV station, 4 years ago, I learnt some basics in Pinnacle Studio, Ulead Video Studio and Adobe Premiere. In my own projects, I use Premiere, Avid Free DV, Vegas Video or Pinnacle Studio.
Lots of people argue that Pinnacle Studio has major stability issues and that the DVD-authoring module often gives poor results (I have never encountered such problems, never). But if you want special effects and strong features in a simple interface, I say you choose Pinnacle. Also, unlike all other editors mentioned here, Studio automatically divides the video into scenes, which I personally find very useful.