SpeedEDIT already allows you to crop clips via a circle or oval tool.
I've been looking for a way.
How does one do this?
No argument on that.It'd still be a great help if there was a dedicated circle/oval tool with edge smoothness.
I've just posted a tutorial on how to achieve something similar here:
http://forums.newtek.com/showthread.php?139714-How-to-create-mattes-and-masks-in-SpeedEDIT