I have a Canon and run iPhoto, and it runs fine. I have a Canon A60.
The only setting on my Canon that I can manage to change is the Video Settings from NTSC to PAL, or vice versa. I don't even know how you would change the file formats of photographs. Sorry.
And in case you're actually taking videos instead of pictures with your camera, iPhoto has never been able to import the video that I do with my camera. I don't even know how to do so without the Canon software.