Ok, it's not magic, but it's really cool. I have just released version 1.0 of the OpenShot Build Wizard on LaunchPad. It is a python script which downloads, builds, and installs all of the dependencies that OpenShot Video Editor requires. Download the Build Wizard Here!
However, I should warn everyone, I have only tested it with the following OSes: Ubuntu 8.04, Ubuntu 8.10, and Ubutu 9.04 (both 32 and 64 bit CPUs).
If you follow the instructions in the README, and OpenShot still doesn't work, please file a bug on LaunchPad.