I've been playing around with the many features of the new iMovie and it is quite a robust program that does quite a few sophisticated things. I'm particularly pleased with the ease with which a simple project can be put together. Sound, video effects, transitions and such all work flawlessly and allow for a reasonable amount of control, enabling the user to concentrate more on content and not worry so much about the actual operations of the program. I think I really like this for entry level students, but I can see that Final Cut would be needed for more complex projects.
The piece I have posted here is from a single clip with voice over, sound effects background (right from inside the program) and a few video effects. I was told by a colleague that my blog at times seems almost like a performance piece... hmmm, she's probably right, sooo... here's the video in a "made for the web" size (can be saved from iMovie as a full blown HD DVD too).
For putting a video on U Tube or just a quick presentation, this new version is awesome! Don't be afraid, give it a try.