I would recommend the following:
If you want a free editor then the following are excellent choices(in order)
2.Mpeg2schnitt(may require high res desktop settings)
3.Cuttermaran(may require high res desktop settings)
If you are looking for the best editor around and wouldn't mind paying for it then there are only 2 I would suggest(only for editing,not encoding-please look up the forums for what that means):
- Video Redo
- Mpeg2Vcr(or Mpeg Video Wizard which is a wizard version of the same)
Hope this helps.