I've been using WiseCut since it was first released on AppSumo and have done about 10 projects with it. Or at least, I've attempted to do so. While I like the promise of the application, the UX is a train wreck. Many times, after uploading several videos for a project, the service just loses videos, and you need to restart all over again. The entire workflow is clumsy.
The transcription is not too bad and once you've got the content loaded correctly, it is relatively easy to edit the videos.
In summary: there are better solutions for this type of video editing, but if WiseCut can address the broken processes of getting content into the system, it could be a winner.