I've been playing around with Sony Vegas Pro 12 and the /Crop/Pan settings. I used to used a program by Canopus called Imaginate to do this kind of work but Canopus killed it when they became Grass Valley and introduced the functions into Edius. I was an Edius user for many years and found it very stable and fast but with version 6.0 GV dropped support for the NX hardware cards which I used, with no word on when or even if drivers would arrive for the NX hardware I moved over to Sony Vegas Pro. Why Sony Vegas Pro? Well I'd used Sony Soundforge for a good while and Vegas integrated with it and the learning curve was relatively shallow.
Vegas runs nicely on my Intel i7 editing PC but also very well on my AMD Phenom II laptop, on which I edited the montage below and increasingly find myself doing more and more work. Vegas copes with canon 5D2 video natively as it does most formats.
Photos taken on Canon 5D2 and Leica M8, music An Ending by Brian Eno.