I should clarify. It does re-encode even these hard-wiped sections, because the information on the frame is still changing. Hence, I wish they would add soft wipe controls to their different wipes. They have TON of transitions, just no control to make the edges softer.

But, man, you can do wipes like Kevin Smith did in Dogma with NO problem.

In short, the product needs two enhancements:

1) soft edge controls on its transitions
2) not downmixing multi-channel audio when they're mixed.

That said, it does have the ability to handle two audio sources with some decent control on volume and fading. The intent is to let you place an original audio source (say, the direct audio from a handheld camera's mic) and then place and control background music in the second layer. The two layers get mixed together in the export process. On the whole, this is a great feature and allows for better crossfading when manipulating stereo sources. But if any crossfading or volume changes happen in a 5.1 file, it downmixes it. That's is main audio drawback. Oh, and I think if you downmix to PCM it actually converts it to Mono. I found that out after messing with a different film.

If you're editing together home movies, this program is a dream. For some of the more professional touches we're trying to accomplish on these (or other) "real" films, the product needs some more development.