Microsoft Windows Essentials 2012
Microsoft just updated the Windows Essentials package. Features added from previous version of Windows Essentials. However some features may only be available in Windows 8 Release Preview. Like Video Stabilization in Movie Maker which can be found in Windows Team Blog link below.
To run these programs, your PC must have Windows 7 or higher, otherwise it will not run at all.
You can get Windows Essentials 2012 by visiting the Windows Team Blog here: http://windowsteamblog.com/windows/b/windowsexperience/archive/2012/08/07/introducing-the-new-windows-photo-gallery-and-movie-maker.aspx
To download the web installer, click Web Install followed by Windows Essentials 2012.
To download the standalone installer, click Windows Essentials 2012. I recommend standalone installer which is least problematic.
System requirements of Windows Essentials 2012:
http://windows.microsoft.com/en-US/windows/Windows-Essentials-2012-system-requirements
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Running Windows 7 Ultimate SP1 32-bit with all updates at 1920x1080 resolution.
System specifications: See my channel description.