I have this product and its excellent and can recommend it. I am not normally using it now because it did not fully support 24p. But for 30p, 60p and 60i video, which is what most people are shooting, this is a great product. In one user interface view, Magix Movie Edit provides a simple iMovie-like editor, while in a timeline view, it performs more like Final Cut, Vegas or Adobe Premiere. Plus it comes with a pre-defined set of very nice animated titles, and many other capabilities.
Update: No wonder about the price – version 18 of the software is now out and is said to properly handle 24p now. I liked version 17 and suspect 18 will be a fine product.