If all you need to do is collect a lot of clips into one large video you could always use the free Superę
It does that quite well.
Thanks, but I wanted to do a lot of editing and stuff. I really need to use Adobe's software, but don't want to fork out $700+ that it would take to buy the latest version (I believe the latest version supports MP4s). Therefore, I just need to figure out which file type to convert my files to... Does anyone out there have any suggestions???