Nero is probably fine if you're just cutting up home movies on an occasional basis. It's not the greatest program, but it will get the job done.
Premiere Pro CC is a professional editing suite with a steeper learning curve. It costs $240/yr, which isn't too bad. I have no idea exactly how the cloud component works. Would imagine you'd need good bandwidth and unlimited data to get the best use out of it. I doubt you'd need something that complex.
Unfortunately decent video editing software is expensive. Especially on Windows. At least on Mac, you get Final Cut, which drops the silly cloud component and only costs $60 more.