These are iPhoto's import types:
HDV (720p & 1080i)
MPEG-4 (Simple Profile)
iSight
DV
DV Widescreen
But you can also import your video clip into iPhoto 5 and import to iMovie via the media browser, I'm not sure if this is still codec specific, but it's worth a try, otherwise it's QT conversion time... 😉