Vista - what are advantages and disadvantages of MS Movie Maker (from Vista Ultimate)

OK, I'm close to buying my first camcorder, a Canon HV-20. I've been reading
about various editing programs but since I'm new to this and I don't intend
to do professional work with the cam, I have no urgency to spend the $$$$ on
a fancy editing program until I know I need it.

So, I'm just curious about MS Movie Maker. I'm sure there must be a
consensus on its good points and weaknesses for basic work (capturing, basic
editing of clips, basic transitions, basic titling, rendering to commonly
used formats, publishing back to tape, etc.)

Joe