What I watched in June: "Chernobyl", "Good Omens", and re-watched "Stanger things", since third season is here. Looks terrific when watching on a projector screen in my recroom.
Now I'm prepared.
LumaFusion all the way. There is no competition in my opinion.
I guess, no CD or agent expects a showreel full of pro material from a new graduate. You should be proud of your work, and don't be scared. Your reel will evolve with time. Be honest, talk more about your strong skills, mention that you're still learning - that's a good quality, since you're going to improve your work.
For a stabilizer, the Glidecam hd-1000 is the best option, but would cost a fortune (unless you'll find a used one). So get the Flycam hd to save a sum.
Well, now we should think about how it does/can violate cyber ethics.
There is good free software, but for general purpose video editing, the commercial software is hard to beat. Most companies have entry-level versions that are only $50-$100. But, if you want to spend a lot more time doing your project, and end up with a result that doesn't have as many professional effects, then by all means use the free software.
I personally recommend Vegas Movie Studio, but I got my start, over a decade ago, using Pinnacle Studio.