Video Editing Software Help?!

I'm in the early stages of putting up my 1st blog with a self-hosted video, which I'd like to edit, so I'd appreciate (video knowledgeable ) Warriors' recommendations for video editors.

What I'd like to do is:

1) cut a minute or two from the end
2) insert some text on a separate (PowerPoint-like) story board (or whatever its called) at or near the end,
3) place a watermark on it, at or near the end, and
4) reduce background noise as much as possible
5) also use it on YouTube.


My two biggest criteria, equally important, are:

1) No-cost/Low-cost: I have relatively little money, so no-cost is better than low-cost (less than $100 - preferably less than $50).

2) Ease-of-use, since I am not terribly technical. (I'd rather pay a little more to get software that's easier to use.)


I've found 3 choices after doing some research on my own:

1) Windows Movie Maker (the version for Windows 7, which I'm running) - Free

2) AVS4 Editor (which is actually delivered in a package of 16 pieces of software, including a video converter) - $39/yr

3) Sony Vegas - $79 (I think)


What I'd like to know is:

A) whether each of those 3 choices are capable of doing each of the 5 things I mentioned, above

B) how relatively easy (or hard) each one might be to use to do those 5 things

C) which one is best for me/my situation

D) any recommendations for other (better?) choices.


Thanks in advance for your time!

Richard