Niall Ginsbourg posted an item on his blog this weekend describing a new Media Center Markup Language (MCML) application for Windows Vista Media Center that was unveiled recently at the Cebit 2007 conference - Media Center Cutter.

Olcay Buyan, a developer from MCEDev.com, has been working on this application, which allows you to edit DVR-MS files directly within Windows Vista Media Center using a storyboard-style visual editor.  In addition, Media Center Cutter includes several features that are above and beyond standard video editing functionality (from the list on Niall's blog post):

• Automatically converts videos to other formats for use with portable devices such as Zune or iPod
• Allows creating automatic conversion rules (for example - "always convert new series recordings to WMV format so I can watch them on my Zune")
• Allows repositioning of segments within the final file
• Automatically corrects, resets and updates pre and post-padding within the DVR-MS metadata
• Automatically scans your Media Center recorded TV folders so you can quickly find recordings to edit
• Retains all DVR-MS metadata added by Media Center so the information displayed in the Recorded TV gallery in Media Center will appear correctly

You can check out more information about Media Center Cutter, including some example screenshots, in Niall's blog post at http://mobilewares.spaces.live.com/Blog/cns!78533A1A2E078194!340.entry.  Hopefully there will be a downloadable version of this tool available in the near future for folks to try out.