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TheWyrm, sorry - I thought it did (my memory is failing me!). I have almost always used Movie Maker (in spite of its clunky interface) because it's quick and easy to create a small preview video. If you're seeing quality problems with yours then that could be caused by many things rather than MM - I've always found the video quality more than good enough, as long as you don't try and compress the file too much. It could also be because of the import codec that was used to make the original recording and which doesn't compress well in other formats - I'm just guessing.
You could use MM to do the editing (if you don't mind the interface) and export the video in custom high quality format, or one that is the same as the input video if you can, to eliminate losses and then convert the output file to whatever you want by using Avidemux. I've also looked into Videopad, which looks really versatile and quite powerful - and it has a free version too!