I am going to plug Windows Movie Maker and take what I've got coming. Granted, it is somewhat inferior to the other ones mentioned. However, it is extremely easy to use, free, and can produce some pretty good stuff. You can concentrate on the presentation (which is what counts) instead of the software. The .wmv compression format is excellent and scalable to anything from DVD quality (actually, this is saved as a DV-AVI) to a streaming web video. I tried editing on a mac with Final Cut Pro, and it froze (so much for mac reliability

), so I did all my editing on my laptop with Windows Movie Maker with what I think are pretty good results:
http://web.mit.edu/first/www/05media/05reel_512.wmv
Edit: The pan over still photos was done with Windows PhotoStory (also free) and clipped in to Movie Maker.
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MIT Mechanical Engineering
>> College Mentor,
Team 97: Cambridge Rindge and Latin School with The Edgerton Center, MIT Mechanical Engineering, Bluefin Robotics, and Draper Laboratory
>> Alumnus, Team 527: Plainedge HS