Windows Live Movie Maker (“v1”) will be releasing later this year, and will be completely rebuilt with ribbon and some other changes. Mike Torres offers at a glance of new version, which includes: more transitions, effects, multiple soundtracks, more video editing features like trim and split, “some sort of a timeline”, and a simple interface that would allow more experienced people to go deeper when they need to.  What won’t be available in v1 is support for Windows XP, as Windows Live Movie Maker is built on the new graphics capabilities in Vista and 7, including DirectX.