I like the new video editor it makes a great addition. But what I think would be an added improvement is to add a tool that allows members to make story board vids. Something like windows media player has.
For example say I wanted to make a slide show video or a rolling credits video of a poem or a Scary Story.
I would just simply input my story to an allowed character limit should we say about 100 or so characters per board or slide. I would continue this process until my writing was complete. then I could choose from a number of different kinds of word sizes and shapes text, front, size, and shapes, including my favorite the dripping blood text. After I was all done all I would have to click on was the upload button to post my new video onto youtube to share with the world my creativity. you can even allow for members to include animation for their slide show.
Or you can have the story or poem just roll from the bottom to the top like movie credits do.
I Really think youtube members would love this added tool to your movie editor.