Desperate Cry for Help!!

Does anyone know of any software which I can download (preferably free but will pay I am THAT desperate) that will allow me to edit Mpeg 1 (most important) and Mpeg2 (less important) files and which will run under windows NT (ie does not require DirectX higher than 3). I am NT service pack 6 and I have administrator rights.

I am not looking to do anything fancy - just cut and splice some footage and overwrite the soundtrack

Thanks in advance

Antwerpman