Wow, I have never realized how much iMovie 3.03 sucked until I dumped 45mins worth of clips into it. Man, that thing got crazy slow. It would take 30-45 secs just split an audio clip at the playhead and if I wanted to change anything I'd have to wait for the beachball to stop spinning. Oh and it lost my project once because of a saving error.
So, is the above reasons why everyone was so happy with the latest version of iMovie? On the up side, this experience did prompt me to finally install Avid FreeDV. I have had it for about a year but never got around to installing it. I am really diggin' FreeDV. Has anyone else played with it? I know that FreeDV isn't perfect but I think it's pretty good for a free app.