Recent years have witnessed an explosion of user-generated content (UGC) videos shared and streamed over the Internet, thanks to the evolution of affordable and reliable consumer capture devices, and the tremendous popularity of social media platforms. Accordingly, there is a great need for accurate video quality assessment (VQA) models for UGC/consumer videos to monitor, control, and optimize this vast content. Blind quality prediction of in-the-wild videos is quite challenging, since the quality degradations of UGC videos are unpredictable, complicated, and often commingled. Here we contribute to advancing the UGC-VQA problem by conducting a comprehensive evaluation of leading no-reference/blind VQA (BVQA) features and models on a fixed evaluation architecture, yielding new empirical insights on both subjective video quality studies and objective VQA model design. By employing a feature selection strategy on top of efficient BVQA models, we are able to extract 60 out of 763 statistical features used in existing methods to create a new fusion-based model, which we dub the VIDeo quality EVALuator (VIDEVAL), that effectively balances the trade-off between VQA performance and efficiency. Our experimental results show that VIDEVAL achieves state-of-the-art performance at considerably lower computational cost than other leading models. Our study protocol also defines a reliable benchmark for the UGC-VQA problem, which we believe will facilitate further research on deep learning-based VQA modeling, as well as perceptually-optimized efficient UGC video processing, transcoding, and streaming. To promote reproducible research and public evaluation, an implementation of VIDEVAL has been made available online: https://github.com/vztu/VIDEVAL.