I need some video editing software, nothing too flashy but I need the ability to cut certain parts out of clips, cut down music etc and a nice interface with a timeline that clearly shows the audio and visual components separately. The ability to export to DivX would be nice, but not essential.

I was going to go for Premiere Elements 7, but it has mixed reviews (And a lot of complaints about bugs). So, any suggestions?

Cyberlink Powerdirector.

I use this for editing our helmet cam footage from the racing, and I must say it's absolutely brilliant. Very easy to use.

Thanks, although in the end I went for Pinnacle Studio 12 as it got a better write-up.