The Windows Experience Blog posted that there's a New Windows Live Movie Maker today.

Anyone use movie maker? I have a few random movies (and by movies I mean 10 second to 3 minute clips) that I'd like to have organized similarly to how I have my images in Lightroom (ie: always there and available, editable, exportable). I've played with iMovie on my Mac, but that seems more project oriented, not library + project. Since I do my photography stuff on a windows system, I have no problem doing the minor movie stuff on there too, if only to have it there and in one place so those incredibly interesting 10 second clips of SCA fighting from 5 years ago don't go missing forever :)