And... Cut!
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MPEG Streamclip is an extremely handy tool for editing, merging and exporting movie files. Open a movie file (or several files that will be combined, and treated as one) in its editing window.
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While playing back the file, press I for In and then O for Out to mark a selection in the progress bar. The selection can be fine-tuned on a frame by frame basis for truly seamless cuts; then either trim the selection to edit out a part of the movie, or export the selection as a separate movie file.
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An enormous number of options are available for exporting, including zooming; cropping; picture adjustment; and optimization for iPods.
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A compact and efficient helper when you don't quite need QuickTime Pro, or Final Cut Pro.