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Best value graphics/video editing software?

We're buying a digital camera for someone for Christmas and thought it would be nice to get some decent software to go with it.

I suspect that in the world of cheaper software (i.e. not Photoshop) there will be one package which offers the best bang-for-the-buck when compared to others.

Can anyone recommend anything?

It might even be free/downloadable, though it would be nice to have something boxed to give with the camera on Christmas day. I just don't want to get any old program from PC World, just so it's boxed.

Thanks.

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