I have Corel Video Studio X4 Ultimate. You get Borris Graffiti and Prodad Mercalli. The Graffiti thing is for creating titles ( haven't used it, the Mercalli thing is a video stabilizer (software plug-in for VS).
I've never used another version of Video Studio but I absolutely hate X4. It mangles your video clips so bad, slow, jerky, some clips don't even play in the Timeline, other clips just freeze. Customer support is non-existent and the Corel forums are strictly user to user. You can actually talk to someone at Corel if you go to their facebook page, but that just tells you what kind of company they are.
My advice, look elsewhere.
PS, Corel's website still has the VS X4 + PSP X4 Ultimate bundle on their website. Likely still will until PSP comes out with X5.