Which cheap software you guys using for creating mindreels..

[zuprion]

for combining YouTube clips, movie footage, Animoto videos, and slide shows? To make a dream reel I need a software that can combine/convert all kinds of formats into the same reel. Is there a free or cheap application out there for this? (I see the post below by DavidNow but appears to be discussing expensive software for this purpose) Also, is there an application that is specifically for HD?