The only product that I can verify that has an auto clip generator function (scene recognition) like WMM has is Magix Movie Edit Pro. There are some programs that can detect scene changes from DV tape footage by recognizing the points where you hit the start/stop record button on your camcorder (Vegas is one, I assume Pinnacle is another), but it's not the same thing as what WMM (and Magix) does.
As for import limits, I'm sure there are some, but they are probably pretty high limits - like a 6 hour clip maximum, or the file can't be bigger than 120+ GB, or something similar. I know Adobe Premiere Pro has a import limit of 4096 x 4096 pixel images (video and still). Adobe After Effects has higher limits, but rarely do people bump into them.
And I find it funny that this thread went on a tangent or two.

