I really like iMovie '08 - and I think it's in many ways the better product.
BUT
Apple did seriously mess up with this one. The problem is that it's not an upgrade to the previous version - it's in many fundemental ways a completely different project, bearing little resemblance to the previous version, and even more stupidly, missing some features that were in the '06 one. Plus - it locks you into a way of working which, while based on some great ideas, may well not suit everyone. Many people who are used to the old one were quite rightly up in arms about the whole thing.
As a newcomer to the system though, it's worth giving the latest version a try before ditching it.
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