Valve releases Source Filmmaker!

Can do playback, but it's also capable of creating and manipulating content. More machinima software than demo playback
 
I guess we saw it with the recording system..Post your videos!:)
 
Finally! This is great news, I really do expect some great things to be created with this. I've seen people messing around with the unofficial version and they created some good things.
[ame]http://www.youtube.com/watch?v=Bhv0VTxp0wo&feature=related[/ame]

There are a lot more if you search.
 
It says you can apply for the closed beta, I would but it only supports tf2 for now so no point.
 
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