ULead is one of those pieces of software that usually gets bundled with your DVCamera isn't it...?
i can't really comment - i've never used it, but i always percieved it to be for the amateur home movie maker, a bit limiting if you want to progress with your editing.
Adobe Premier is a good piece of editing software as is Apple Final Cut Pro, both of which are used in professional video editing.
I prefer Final Cut Pro, but then i'm a mac user, and it was designed originally with mac users in mind