I just found out Apple released iLife '08. Unfortunately, its main weakness is the new iMovie. They completely redesigned it and removed features to make it more consumer-oriented. Originally iMovie was practically like Pinnacle Studio for the Mac. Now it's like Muvee AutoProducer or WinDVD. They got rid of the timeline, video effects and more!

Apple - iLife - iMovie

It's a bummer, too, because I plan on getting a MacBook (I am in college). BUT... there is hope. Remember how iMovie and the other iLife applications used to be free downloads? Well, iMovie 6 is now a free download for iLife '08 users, so they can do good old-fashioned timeline video editing once again...

Macworld: News: Free iMovie HD 6 download for iLife '08 users

I will download this immediately once I get my Mac, then I will eventually get Final Cut Express.

Also if you upgrade from '06 to '08 it doesn't over-right iMovie HD 6... so people who like to edit properly still can.