ANONYMOUS This is barely usable. It locked and crashed several times, so I really wasn't able to get a good idea of how well it worked.
From what I was able to see, I think it's got potential, but it's certainly not usable right now. I don't see what need it's trying to fulfill, since iMovie is a great entrance-level video editor. QuickTime Pro is also fine for very simple editing, like just splicing a couple videos together. I suppose FastCut is supposed to be a step up from QTP.
As of right now, don't waste your time downloading it.
(Version 1.2)