Mas prefer ko ang Adobe Premiere. It is too flexible at magagawa mo dito ang iba't ibang camera tricks. The thing is, you need to invest knowledge before you can use it.
WinProducer, WinDVD Creator, ULead Video Studio, Sony Vegas are sort of alternatives. Pero kung mag-aaral ka lang ng video editing, its better to learn PREMIERE PRO (or CS versions).
Windows Media Maker is sort of a loser. Ang good thing lang dito eh ang compatibility niya sa mga gadgets such as TV tuner, WebCam, at Digital Cameras.