It only saves your movies in it's own MWMM file that not even windows media player will recognize! I tried ZamZar to convert it but ZamZar couldn't do it. You must be able to convert them somehow or they're pretty much useless! 
That's just the project file, not the finished movie.
To finish the movie, you need to click one of the options in the "Finish Movie" section on the left of the screen (see screen shot). The the wizard will take you through saving it, where you can select settings for quality. However, it will only create WMV files, not AVI or MPG videos.
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