anyone know how to go about the really advanced video editing?
Ive made an amatuer AMV so far so i know how to do basic things like edit/cut/join video parts and such.

But how would i go about say for example making a cut out of an anime character and putting that into a different background? or making my subtitles run in a circle on the screen instead of just being written at the bottom?

If youve seen Kanon&Air : Eternal Dream S2 music video then you know what kind of editing im after.

Well the first thing you need is an editing package capable of doing what you're interested in. I use Adobe Premiere, which has just about every text manipulation you'd want for decent quality work. For adding an anime character you'd probably draw the character frame by frame, build that up into an animation with a "blue screen" like background, set the chromakey transparency to the background color (and hope you didn't use that background color anywhere in the character drawing), and merge the animation into your film. I'm sure there's better packages out that that can do stuff like panning and zooming too (or maybe Premiere can, but I've never done it myself).