Tip: Sign up for their product notifications and you may get additional saving offers on their software after about a week. I would suggest you start by watching lots of Elements and Movie Studio tutorials (YouTube). I can no longer remember the specifics as it's been 5 years since I did the analysis. I gave both editors a try with the same footage using their trial versions and Movie Studio was better in every respect. I really thought I'd prefer the Premiere Elements editor since I was proficient with Premiere 6.5 however so much had changed over the years that Elements was like starting over. It ultimately came down to Adobe Premiere Elements and Vegas Movie Studio (back when version 11 was the latest). I moved onto Windows 7 Pro 64-bit and needed to find the "best editor for the money" that could handle HD. Years later when I had a bunch of Standard 8mm and 16mm home movie film transferred to High Definition, the old Premiere 6.5 on Windows XP was no longer up to the task. Back when the OS was Windows XP and all we had was Standard Definition audio/video, I tested a lot of editors and chose Adobe Premiere 6.0 (then 6.5) and never regretted it.
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