Spoken here. This thread will be combined with the HL video contest thread that is stickied at a later time. But, let's get started.
So you don't know how to make a Highlight video. In fact, you don't have any editing experience. It's all good, video editing is not as hard as many believe. Without further ado, let's get this started.
The program we will be using is VideoSpin by Pinnacle.
Download here:
http://www.videospin.com/Redesign/

Click on this image. You may have to register, but you can pretty much lie about anything if you want(Even the email).
Once you have the program and you have it installed, it'll tell you you have a 15 day for different codecs, just ignore it because this tutorial will talk about video conversion.
Starting off, you'll see in the upper middle is what looks like an ad. Well.. it is. So... yeah, they put a big freakin ad right in the middle of the program. It never gets in the way, but it is very annoying.
I'll label the picture with parts. Because this program is free and they're advertising a stronger program, this has several drawbacks. There is no maximize button, so if you're on a widescreen, you will see your desktop background peeking out the sides.
PART A: This section is where your raw footage though. The great thing about this program is that it splits apart a single clip into multiple clips wenever there is a black spot/fast transition. Many professional programs such as Adobe Premiere and such do not do this automatically, so big ups to this program for doing that.
Because of this, most of the hard part about editing is done for you. What makes editing so time consuming at times is spliting up clips for use on the timeline. The Down arrow is how you choose between the clips you put in the program. So if you're editing multiple fights, it'll organize it for you.
On the side of are several buttons. The first looks like a camera and that's the one I was explaining before. The second is button is for transition. Transitions consist of making the video fade to black, or even white if you so choose, as well as other cool looking transitions that you can play around with.
The third one is text that you can add, a bunch of them look fancy and is rather self explanatory. All titles go into part E on the timeline, for better organization.
The one of a camera is just for pictures you can add, also self explanatory.
The one of speakers is full of sound effects that come with the program, feel free to use any of these in your video.
The last is for the music you put into the program, just for oganization.
PART B: The AD, if you don't ignore it, you will get annoyed.
PART C: This is your preview pane. Click on any form of media in part A or the timeline which is part E,D, and F and it will all be played here.
PARD D: Part D is the timeline where you put the footage. The clip I'm using is from the video I put on youtube for the initial HL video thread. Since it has its own audio, a seprate section underneath it exists and that's the audio part of the clip. Muting it is very annoying because there is a very skinny orange line running through the middle. If you to mouse over it until it adds a volume symbol by your cursor. Just click on it drag it down to the bottom. The lower you drag it the lower the volume on the said clip is.
Shortning a clip is rather easy. Just place your mouse and the side of a clip and an arrow will show up facing the a direction. If two arrows show up on both sides, that means a clip can be lengthened or shortened. A 4 second clip can't be lengthened to 5 seconds in case you're wondering how that works.
Right clicking on a clip and splitting it has many uses. For instance, if you want to add a section of commentary from Joe Rogan or Mikey going "OOOOOOH" but you want to seperate it from the rest of the audio/video, you have to split it. Splitting it does nothing to the clip, it just gives you greater control of it. When you split it, you can seperate the clips and put them on different parts of the timeline.
The Majority of your work will be done here. Experiment around and have fun, mixing clips and syncing them to the music of your choice. A tip for syncing is to listen to music and press pause at the precise moment you want, say, a punch to land on a foe. After you press pause, because I can't figure out where to place markers on this program (Another HUGE drawback for sync editing) you may have to make a mental note of the time, which is displayed under the video pane.
PART E: Where the text goes, much like Part D, in fact, exactly like it.
Part F: Is where the background music goes. You can chop it up and do the same things to this like you the clips in part D, but mostly you just want to put a song there and have it be that. If you want, you can split the music clip and use that as a way to sync clips.
Now, you've edited your video, and it's a thing of beauty, SAVE YOUR PROJECT! Before you do anything, save your project, and save often. I can't stress to you how important saving is. Now is time to export the video.
Click on the Make Movie tab located directly next to the edit tab, towards the top part of the screen. On the left side, click on the WEB button. On the arrow down, click on youtube and it will will show you how big the size will be. The new upload limit for youtube is (I think) 1 gigabyte, so ignore what it says about the 100 megabyte limit.
Just click Create, and the rest is history. If you're already logged into youtube on your internet browser, it will upload it directly to your account through the program. Just enter in the title, description, tags, and the rest of the things describing your video and upload it.
Voila, you are done. Pat yourself on the back, and post it in the official thread.
If you have any questions regarding anything at all, just ask here and I will be able to answer it to the best of my abilities. That is all.
***NEW***
It's been brought to my attention that some people may not know how to download full fights. I'll show you the easiest method that I know.
Using firefox, go to this page and add this add-on.
https://addons.mozilla.org/en-US/firefox/addon/3006
With that installed, head over to mma-core.com. Simply do a search for the desired fight in the videos section. When you find the video, click up here in your browser toolbar.
It'll show a filename then a .flv from there you can download it, and you're set.