Avid competes in two video editing markets. On the high-end (think Hollywood), there’s Avid Media Composer. On the low-end (think home users) there’s the Pinnacle line of products. And now they are entering the marketing in-between (prosumers) with a new product called Avid Studio.
Avid Studio aims to keep things simple for people, while also providing more features and much more flexibility than is typically found in consumer orientated video edit apps. For instance, most consumer-level video editing apps allow for only a handful of video tracks (sometimes even just one or two). Avid Studio provides unlimited video tracks, something typically only found in pro software. Additionally, Avid claims to include over $2,000 worth of professional effects and plugins.
Avid Studio is “optimized” for 64-bit operating systems like Windows 7, however, it is not a native 64-bit app. It’s available from Avid for a street price of $170. Full details are here.

Nice to hear of Studio.
Our film school teaches both Avid MC and recently added Final Cut to the available courses. We’re still focused on Avid MC and although the student price is great, we all wonder where the money is coming from once we get into the film production market and need a licensed copy.
Thanks for the update, Dave!