You ever done video editing?
I personally haven't used Premiere elements, but Adobe Premier is a pretty professional program, and not very easy to use. The Elements version might be a consumer version of the program, and therefore easier to use.
If I'm after a quick job, I'd use Studio 10. Its very straightforward, drag and drop kinda thing (even with effects). That's something to consider.
Also, Windows XP has its own video editing program. Doesn't let you do too much, but it has all the basic functions. And its free (assuming you've got XP)