jrj350, I do quite a bit of video editing and have tried just about every video package (paid and free) out there.
There several basic things to consider when evaluating software:
- Do you need to process raw HD video? 4k video?
- What kind of output are you looking for? Just to a computer file or will you be burning DVDs? Blu-Ray?
- How much post-processing (editing/splicing, adding effects, text, graphics) will you be doing?
- How much processing power does your computer have?
Most of the free software will do basic editing and allow a few effects. Some will not process 4K, some do. The paid products almost always have more to offer, plus support is available. One of the best free video editors on the market is Lightworks. The free version is somewhat limited on the output you can achieve (I believe it is limited to 780i, not 1040i/p). The paid version will do 1040i/p, but that is out of your stated price ceiling of $100.00.
Within your price ceiling, in the recent past I have purchased and used recent versions of Cyberlink's PowerDirector, Sony's Movie Studio, and Adobe's Premiere Elements. All are capable editors, but the one I always come back to is Premiere Elements simply because it runs better on my laptop, which is an i7 quad core 8g ram w/NVIDIA Quadro FX 880M display (just so you can compare to your rig's specs). The other software runs fine as well, but the workflow offered by Adobe's product fits with my habits, I like the UI the best, and runs great on my machine. Your mileage may vary. I would suggest downloading free 30 day trials for each of these programs (as Bluto said in Animal House "don't cost nuthin") and determine what works best for you.
Please post back whatever you decide on.