Yep. I got super-old sony vegas movie maker 4.0 New versions of this software below 40$ on ebay. Old version like mine - you can get it for 5-10$! All this "movie makers" are very straight-forward and simple, and actually a Light Editions of pro software.

By using custom settings for renderer, it is possible to render a HD video.

WMM doesnt like codec used to compress FRAPS vids. Actually, WMM have problems even with ordinary PAL\NTSC - DV. add HD resolution - and it stops working :)