Just a few weeks ago Apple introduced iLife 08, a suite of products that supplant the older iLife 06 version. In it are updates to Garageband, iWeb, iPhoto and iMovie. iMovie seems to b e causing quite a stir. The latest iMovie 08 version is actually a smaller less featured program, a whole new program that replaces iMovie 06. The reviews have been mixed, but many who came to rely on iMovie 06, like I have at work, are very disappointed. I grabbed the newer version for home use, but have been warned about lack of backwards compatibility and the loss of more powerful features.
Take a look at the article by David Pogue, a New York Times Writer, who is not very excited about this new version.
Here is a Blogger that actually did a comparison, then decided to compare, and actually preferred iMovie 08 for time savings! But on both posts read the responses, interesting!