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Xilisoft's Video Cutter 2 is an easy-to-use shareware video-editing tool. It's designed to make quick work of cutting and saving excerpts from videos. You simply drag arrows to set the beginning and end points of the clips you want to extract, and Video Cutter does the rest.

Video Cutter works with most video file types, including Flash video, so you won't need to convert your clips to post them on sites like YouTube. But Video Cutter can also convert your files on output, if you tell it to.