Nah,
VirtualDub or
VirtualDub Mod should suffice. It's a FREE muxing/encoding program that can use a million+1 filters but not a proper video editor.
EDIT: It lives! The Virtual Dub project was recently restarted, we had a recent release! I've always used this program since forever as it's really robust. Looks like it will finally be modernized and features like mkv/h264 support added by the original creator instead the now defunct team that made VirtualDub Mod.
One more reason why VRDub is great is that it's compatible with
AviSynth the de' facto video manipulation tool used by each and every group out there that counts.