I just discovered an interesting (undocumented?) way to solve my
      original post above. Try this and see if it works for you.
      *A way to align insert edits*
      1. Drop your video into the insert line, to the right of where you
      want it to be
      2. With your vertical bar, scrub through the main AV track until
      you reach the out point (ie where you want your insert to begin).
      Note the time (lower left box)
      3. Now, position your cursor over the beginning of your insert
      video so that "in" appears (don't click)
      4. Hold down the shift key and press the left mouse button (a
      secret message from Jan will appear...only kidding!) Actually, the
      vertical timebar will snap to the beginning of the insert edit.
      Now, still with the shift and left button held in, you should be
      able to drag the insert video to the correct value (once again in
      the lower box)
      5. Release the buttons and the insert should be right on! Oh, BTW,
      you should also use a scale of 2 sec or less for accuracy.

      I'm using V2.02 (does it work as well in .03?)

Don-

       You're right, but I'm also partially right! When the insert track is filled and
       the time line passes over it, it will dominate the monitor picture so you can
       accurately locate the in point and then right click, chose "inpoint" and it will
       trim at that exact frame. Also locate the exact point on the main video (using
       arrow keys) where you want to start the insert, stop there, hold down control key
       and with the mouse, grab the insert clip and shove it up to the fixed line (which
       is held steady by the control key).

       I know you knew this but I spelled it all out for Case and others who might use
       it.

       -Bill