Hi Dt,
I use NCH "Videopad Video Editor", you can download a free trial (of the full software) from their website. It is very good and will play/allow editing of may formats (Mpeg, WMV, AVI, MP4, etc). Features include; video speed (slow down, speed up and play backwards), zoom in/out and pan, all the usual filters like scepia, hune, contrast, pixilate, B&W, old film, sharpen, etc. You can add subtitles, insert pictures as an overlay or background, edit the sound including samples, sound effects and music track overlay. It also includes transition options like; fade in/out, pixilate, fade to (any colour or pic), etc. Blank screen (in many colours or as a picture), and so on.........
Once downloaded i think it was a 30 day free full trial, after which you can buy it or downgrade to the free version, which is still pretty good tbh. Give it a go and see what you think, in the mean time i will use some free samples from the TMF to put something together so you can see whats possible with a bit of time and effort!
Good luck.