Broadcast 2000 is a video editor. Or a multitrack recording studio. Or an übercool multimedia workbench. Whatever you want.
Apparently, while BC2000 is still a bit clunky, it's probably the best GPLed video editing and recording program for Linux (x86 and ppc). It can use unlimited number of tracks, and has a bunch of cool effects too.
It uses an ugly toolkit, and is somewhat hard to use for the uninitiated, but who cares when the program is so sweet? =)
For video production, audio production, and editing you need little else but a Linux box, Broadcast 2000, The Gimp, and maybe an mp3 encoder. Capture full speed, full resolution video from a variety of Linux compatible video cards and 48k stereo sound from your OSS compatible audio card. Overlay graphics from The Gimp. Compress for the internet with MPEG Movie or RealProducer.
(From the home page)
It was brought to you by Heroine Virtual.
Personally, I don't use it full-day; the reason is that the Brooktree cards Video4linux driver is what it is... good enough for watching TV, but not good enough for video capture.
However, the project has ended. The makers said they had "excessive liability", and couldn't afford to get sued if their program (which was used by commercial video houses!) would trash work. This is nonsense, of course, but a sad fact in the world of the lawsuits. =( However, Linux Media Arts continues development of the program.