Short bio: Computer Scientist, FOSS supporter (read more)
Tux Machines (TM)-specific
We have extremely promising open source media editing applications for Linux like the Jokosher audio editor and PiTiVi video editor, both built on the powerful GStreamer framework, reaching a point of maturity where the focus can shift from making sure the underlying infrastructure of the application is solid to adding all the cool features that everyone's been waiting for.
High Definition Video
While things may be looking up, one shortcoming is an ever increasing problem that deserves some more serious attention. There is a lack of proper MPEG-TS support which is used for HDV and AVCHD camcorders and as such, Linux users need a way to easily play, edit and see thumbnails of these videos. Video editing on Linux can't get very far when the de facto standard for high-definition video isn't well-supported especially as more and more cameras are HD out of the box, and the prices for such camcorders are falling.