Premiere Elements 2.0 is pretty good and easy to use. While Pinnacle Studio 9 is a bit easier to use, Premiere 2.0 does seem much more reliable that Studio.
The good is that you can output both Windows and Mac in addition to DVD format video, whereas with the Apple packages, such as iMovie or even Final Cut Express you're limited to Quicktime and non-Windows formats.
Editing was relatively easy, yet still has a small learning curve; the should scale the items on the screen a bit better but if you have good eyes (and I don't!) you can find just about everything at your finger tips.
About the only complaint I have is that the output quality is not as good as Final Cut Express. For some reason the resulting DVD image I created was less resolution than the original/source video which was a VOB file of an old 8mm Wedding film. Not sure why that happened but it did.
Also the helptext gets an average rating from me. While some information is right there, easy to get at, other stuff isn't in the help or is worded a bit too obscure.
Titling is about the only thing that Pinnacle does better. Premiere's is okay, but many of the checkboxes seem to work backwards. For example the "Start off Screen" for a rolling title caused the title to start on screen and roll off screen, whereas Start On Screen had the opposite affect. So trial and error comes into play.
All in all, if you're a Windows User, I would recommend it, if you're a Mac user (I use both) I would use iMovie which normally comes with your Mac or iLife package.