I am familiar with:
1. Avid Liquid - great program but end of the line so no further development.
2. Avid Media Composer- very steep learning curve and very expensive for event type videography. Also very picky about hardware. Heavily kepboard driven so requires a different way of thinking about editing than the drag-and-drop type of editing with most other programs.
3. Adobe Premiere Pro- this is currently my preference for several reasons:
a. it just works and is fairly stable
b. absolutely wonderful integration with other Adobe products like Photoshop, Encore (for DVD production), Soundbooth for basic audio editing, amd After Effects for motion graphics compositing
c. loads of plug-ins
d. hardware agnostic in the Windows world
e. lots of format conversion codecs
Unfortunately I cannot comment on Final Cut, but I think Premiere is a sound choice in the Windows world.