1. One or more processor-readable media having processor-executable instructions that, when executed by a processor, performs acts comprising: obtaining at least one of a plurality of encoded multimedia clips, the plurality of encoded multimedia clips collected in a timeline of a video editing system, each clip having a defined normal decode schedule which designates a normal rate for decoding the multimedia clip; obtaining one or more transforms; wherein the one or more transforms comprise a multimedia transition, a multimedia effect, or titles; decoding the plurality of encoded multimedia clips, wherein the decoding comprises decoding at least one encoded multimedia clip at a rate greater than the normal decode schedule; applying the one or more transforms to at least one of the plurality of decoded multimedia clips to form a multimedia segment; buffering the multimedia segment in a system memory; real-time glitch-free normal playback of the just-buffered and just-decoded multimedia segment, wherein the real-time glitch-free normal playback comprises-rendering and presenting the just-buffered and just-decoded buffered multimedia segment such that the just-buffered and just-decoded multimedia segment is played back without glitch, interruption, jumpiness, jerkiness, or change in playback speed; and determining whether to perform the decoding and buffering when spare computing resources are otherwise available to decode ahead in the timeline.