Well I had written a lengthy writeup but FF crashed on OSX and I lost it. Quick summary:
Virtualdub & Virtualdubmod are closer to flaskmpeg in that they're great for video processing/cutting & edits *within* the same file. As a nonlinear editor I'd look elsewhere. Magix Movie Edit Pro (
here) and WIndows Movie Maker 2.1 (latest xp version, download
here) or 2.6 (for vista, download
here) are the most widely used 'easy'/'cheap' programs I know of.
There are a lot of avisynth based tools out there, but that's a scripting language and it takes a bit of work to assemble enough tools to handle the simple titling & editing you require. There's a page
listing video editing software here that might be worth perusing, there are a number of free tools available to windows on that page.
For 'subtitles' what you want is an app that supports titling, or a separate 'titling' app, or a compositor that has the ability to handle text (or perhaps a titling app that renders white text onto 'superblack' that you can then 'lumakey' over your video, or even png/tga files with alpha if your chosen editor supports that, etc.)
