Ya, if your needs are fairly simple and straight forward, Movie Maker will work. I've used it in the past.
If you want to step up to full blown video editing software, Cyberlink Power Director is probably the easiest to learn by far.
It has a wealth of features for video, photo and audio production. I picked it up last year, not having done any video work beyond Movie Maker and it was very easy to dive into right away.
It's on sale right now as well. (Get one of the "suites" - more goodies included.)
Oh...and get a good graphics card if you're working with HD video. Doesn't matter if your PC is a racehorse, you'll need a reeeaallly good graphics card to cope with HD.