I didn't know any of that, thank you.

Last time I used iMovie it was just iMovie (just 1, the original) on my old iMac, and the only way you could import information (besides a physical connection to a camcorder) was to get these massive (and i mean HUGE) files in this raw sort of format. It was a like a gig for about two minutes. Pretty crazy for my little 13 GB drive on that imac.