edit 2 videos to music track?

currently using iMovie or iMovie HD to edit two videos of my friend and I playing classical music.
There is no obvious way to edit two videos to an audio track.
Do I need to buy Final Cut?
I really only need this facility once or twice a year.
doesn't seem worth the money.
Any suggestions?

Macbook Pro 2.4 GHz Intel Core 2 Duo
Memory; 4Gb 1067 MHz DDR3
Mac OS X 10.6.5

I understand i didnt explain myself very well.
I filmed two guys playing a piece of music.
I want to cut between each piece of footage but keep the music flowing.
This would mean having the music track on one channel and each video track on its own channel so i could cut between the two.
In iMovie, there is no option to have two video tracks.
As far as I can see.
Does this make it clear?
Sorry about the confusion.

editing video of live music.

Well that's what i did, but in practise it's very laborious trying to cut the videos to fit the extracted audio.
You see when you're making instruments synch with audio it has to be precise.
If there were two timelines i could make each synch with the audio then flick between the two.
I don't think iMovie will allow me to do this, or iMovieHD.
Is there another program anyone could suggest which might allow this?
Even if i could have two timelines for 'parallel' videos the automatic shifting of edited clips to butt against eachother would mean the synch would be messed up.
Someone told me an earlier version of iMovie allowed this sort of editing.
I hope this all makes sense.