I played with iMovie last night. My Kodak PlaySport (Zx3) HD Waterproof Camera takes great video, but I get issues with the sound going muffled and strange. Water covers the microphone, I think. I try to wipe it off, but I still get chunks of movie with unpleasant noise. I needed a way to dub over the video. I found these fun film trailor templates in iMovie and hoped I could put one together between settling in and playing with the kids. Sure enough, easy peasy, just import my videos and drag sections that I like into parts of the storyboard.
I'm making one for our little hike, now. Pretty fun! Soon we'll all have movie studios! :)