Windows Version of iMovie
If you're looking for a free competing product to iMovie for Windows, the only choice is Windows XP Movie Maker 2, which is really good at creating nonlinear movies. (Movie Maker is available only for Windows XP.)
Photographs and video can be easily added to Story Boards and Timelines in Movie Maker. Any sequence can be edited, moved around, and shuffled. You can easily drag and drop visual transition tools such as a swipe or a dissolve between each video segment. Video filters are only a click away.
Note that Movie Maker is not a professional tool: You can't create high definition video, as iMovie '05 can, and you are restricted to only one video and one audio layer. That said, it is really good for family videos and small production solutions.