If you check out the website you'll see that VSE has stepped into its final state. There are pre-released versions published, too. One from last week and the newest from today. It now also supports Skins and you can simply create one if you want to.
It contains a few bug fixes, it's now integrated into XP (the Windows keys are available for Windows - and this won't change - for security reasons), can be skinned.
Here are some screenies (Running on Windows XP SP2)


download it from here - LINK EDITED _ It's a direct download link to the skin supported version of VSE.
Soon the source will be publish under opensource licence and a site will be started to VSE Community - check out later.
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