video software

Looking for good video editing software for creating a video podcast?
Hi guys,
I made and hosted a video podcast when I was in Japan a year ago but it was pretty basic.
I am looking for cheap (Free?) editing software that will let me streamline and edit video and sound together for a new podcast when I return to Japan.
The native software that comes with Windows Vista, Windows Movie Maker, doesn’t really have a lot of options or settings.
Any recommendations or suggestions that don’t involve torrents or big purchases?
PC: Adobe Premier Pro
Mac: Final Cut Express, iMovie08. Final Cut Pro
Light Of A Million Mornings – Regine Velasquez (enhanced)