Well, not really but Microseft have released Windows Live Movie Maker which is a great improvement on the original Movie Maker and is getting close to what iMovie can do. Now maybe those wit out a Mac can get close to to achieving what David Gill does 🙂
You can find out more here http://moviemakerpreview.com/
One fly in the ointment is that is needs Vista or Windows 7 to run
That does seem like a disadvantage.