Video Editing Software for Game Capture

I'm posting this here (as opposed to another Verge forum) because I'm looking to specifically edit my game videos, and I was wondering what my fellow gamers use.

Basically, I recently won an Elgato Gamecapture card, and while I'm waiting for it to arrive, I'm getting my PC ready for the occasion. I have Pinnacle 12 or 14 or whatever the latest one is, but I'm unable to locate the disk for it, and I suspect it's too large to travel through Dropbox.

<b>I'm not looking to buy Sony Vegas Pro.</b> I'm not paying anywhere near $600. Which is good, because I'm not looking for anything hugely complicated, either.I can use WMM in the meantime, but I desperately need something better then 'free', with more features.

What I'd like is this:

* Simple video effects (fade in, fade out, speed up/slow down, etc)

* Duel video - it'd be nice if I could have screen-in, but not 100% necessary

* Opacity - the ability to include a watermark, preferably without having to having to PS it first

* Multiple audio tracks - sometimes I have multiple (at least 2) sources of audio at once, and it'd be nice to overlap them. Plus I provide commentary for my video (software does NOT have to be able to record).

* I probably don't need to worry too much about this, but must be able to read MP4. Duh.


I'm eyeballing Vegas Movie Studio HD 11, which is $45. If anyone has this, or had it, can you let me know some of what it includes? Does it meet my standards list? Or am I just too cheap? :/ I simply can't afford too much else right now.

If you have any other suggestions, please let me know.