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Lousy support.
I bought version 3.12 over a half year ago, filed several bug reports. The most annoying is that the app (under 10.6.8) crashes after every 5th export. Still no updates available. Cutting h.264 video files works well and joining several files in one step is a big help. Overall, it is an improvement over QuickTime Player 7. Nevertheless the crashing is a major problem for my workflow.
Pros: Joining several videos in one step
Cutting at keypoints
Cons: Edited (cut) h.264 video has to be reencoded. Simply saving it results in display problems (distortions)
Working bugs out once in a while would be appreciated