What is the best video editing software for Mac?

I am trying to edit videos, specifically .wmv and .mpg files to put in PowerPoint presentations. What is the best software for cropping movies as well as cutting different scenes out of video (i.e. making a 2 minute video into a 30 second video). Thanks so much for the help.

iMovie will not edit WVM nor MPEG-1. You would need to convert the movies to one of the formats iMovie can accept before you could edit them. If you will need the movies to remain or end up in WMV or MPEG-1, I'd suggest looking to a different editor. StreamClip might work for just doing basic editing:
http://www.squared5.com/svideo/mpeg-streamclip-mac.html
To edit WMV you'll need the paid Flip4Mac plugin from Telestream:
http://www.telestream.net/flip4mac/
Regards.

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