iMovie '08 has been completely rewritten from the ground up, at least that's what Steve said at today's media event. Let's take a look at some of the new features:
Initially this will be the most visible change, that is until you launch the app. The icon has been changed because the app itself is so different. Makes sense to me.
This is a big change. iMovie has gone from a simple editing program to a catalog of all the video on your Mac, no matter where it is stored. That's right, iMovie will display movies that are on your machine's hard disk or on an external drive. Pretty cool. You can also mark clips as favorites, so you can quickly navigate to your go to clips. Taking a cue from iPhoto '08, iMovie also has Events (it automatically groups clips taken on the same day together).
I know this might seem like a cop out, but the real genius in iMovie '08 isn't the laundry list of new features, but rather how they combine to make movie making faster. The new Video Library uses skimming (think of that is scrubbing through a video clip, but without having to open it in a different viewer) to make setting in and out points a breeze. New transitions, effects, and realtime title rendering also help to make your video go from concept to screen (big, medium, or small screen) in a snap. Sharing has never been easier either. iMovie allows you to upload you completed masterpiece to YouTube, or your .Mac account with a few clicks.