Check Microsoft Update after installing Media Magician -- it adds an older version of Microsoft's C/C++ runtime files, which has security update available... not a huge deal, if your Windows install has already checked for updates today, you won't know you need this hotfix until tomorrow.
After a very quick look, Media Magician itself is a very basic video editor that seems built on one of the usual ffmpeg-based converters out of China -- in that respect it looks like they did a great job. On the other hand though, it is objectively still a very basic video editing app -- while it's great on GOTD, if you were going to pay out some of your hard earned cash, in the US at least I'd suggest Nero or a home version of Vegas when Frys has them on sale for $0 after MIR, or perhaps Corel's Video Studio when it's on sale cheap [IF it works for you -- it won't on this PC].
Purely from a video editing perspective you might get more out of Windows Movie Maker than Media Magician -- it basically just lets you insert [drag] video clips/files onto the single track timeline where they can be cut/trimmed, & a few FX added. In contrast as you move up the food chain so-to-speak, video editors will let you have multiple tracks that are treated like layers in an image editing app, where clips can be arranged & rearranged at will, with more FX, filters & fades than many will likely ever use. They'll also let you move video or a still image in the frame over time for pans etc. [e.g. the well-known Ken Burns effect http://en.wikipedia.org/wiki/Ken_Burns_effect ].
One task or job where Media Magician might come in handy is if you have problems getting video off your camera &/or using that video -- some cameras record video in somewhat odd formats that many apps have a hard time dealing with. Handling a large variety of formats is something that ffmpeg [which Media Magician uses] does pretty well. Unfortunately you're a bit limited when it comes time to get your video back out of Media Magician. Since Pavtube markets Media Magician for use with other editors, I paid a bit more attention looking to see if the video it produced could or should be used in another video editing app.
For output Media Magician says it can handle MTS, M2TS, MOD, & TOD formats without re-encoding, though editing effects will be ignored -- otherwise you're limited to Xvid, H.264, wmv [Windows Media], mjpeg, mpg2, DV, and a lossy Avid Quicktime codec called DNxHD [Media Magician won't let you use better codecs that you've already got installed]. Xvid & H.264/AVC are OK as final, distribution formats, though Xvid might be considered a bit old fashioned nowadays -- neither is a good choice if you want to edit your video elsewhere. Wmv is slow encoding, and many encoder settings have to be made in the registry [so there's extra hassle, though there are apps just for that], but it may be workable for you with acceptable quality, including in another editing app provided you set Media Magician to encode at its max 12000 bit rate. Mjpeg [Motion JPEG] *should* be ideal for editing the video you get out of Media Magician, but when I tried it encoding was terribly slow, & despite the bit rate being set at 12000 [which is ~1/3 what 720 x 480 mjpeg should be], the results had a bit rate less than 5500. Results were even worse with mpg2 -- instead of a bit rate of 12000 I got 1500, and an encoding test that should have been almost instant took several minutes. I didn't try DV -- its only purpose would be editing elsewhere, & the non-adjustable bit rate of 6000 wasn't high enough. That leaves DNxHD... It works, though there may be licensing issues you might check out if that sort of thing concerns you. You can only choose 720p or 1080p, and you'll most likely have to download & install a package of codecs from Avid in order to use or play your video. Many of the output formats don't allow you to select .wav audio -- I assume if you had really high end gear that records great audio you wouldn't be using Media Magician in the 1st place, so losing quality before you get your audio into your main editor is likely not a huge problem.
All in all Media Magician is a nice looking app that's probably easier for you to use than the usual video converter when it comes to cutting/joining video files, but (re)encoding those files for the most part is lacking. If you have trouble using video you shoot with your camera, it *may* help -- higher priced apps like Vegas or Premiere often assume higher priced or at least most popular cameras & that's what they'll work with. Ignore Pavtube's marketing, which at times IMHO is over the top.
