Roxio Buzz is a new Beta app that’s intended for use with Vista (I think it’s based on .net 3.0 framework, but I’m not sure). This product is basically an ULTRA easy to use video clip editor. Basically the only thing you can do in it is flag sections of the video to be deleted, then upload that video directly to one of YouTube, GoFish, and eventually with the new Microsoft SilverLight (http://silverlight.live.com/) site.
It also has support for saving clips to a number of different formats, and the formats can be extended by downloading extra "packs". Check it out at the Roxio link above.
I took this clip, edited it down, and uploaded it all in about 5 minutes. This is a great way to share clips quickly with friends & family: