In AAS video podcast 11, I demonstrate the relative power of the Nokia N95's built-in video editor, allowing you to combine images, video clips, transitions and a music soundtrack into a finished and polished video that can be uploaded directly to a video blog or web site.
Read on in the full article.
Nice overview, the menus seem fairly intuitive and it is quite impressive what power and flexibility it has. A pity it could not output at "high" quality, though I daresay the sequence you were creating was relatively complex. I would hope that you could simply cut parts of the video, add titles and be able to output at the top setting.
If, not I hope the firmware updates will enable this - Nokia have a busy time ahead supporting this phone as I would like to see the editor and the stills camera application optimized. One could argue that this should already be in place, though personally, I would rather have the phone now than in a couple of months! My N95 should arrive today.