Will either CinemaFX or iMovie allow me to speed up the video and add music? (Pretty sure iMovie adds music...not sure about speeding it up.) Want to edit some driving videos.
You can add music in iMovie, but it only allows one track and you cannot edit it at all. It just lays the track down in the time line from beginning to end and does not loop. I hope they add some more functionality to that in the future.
Also, if your video clips have audio, iMovie will automatically lower the volume of your music track. The only way I have found to avoid this is to turn off the audio from the video clip.
I don't think either CinemaFX or iMovie will allow you to speed up video. You can cut the middle frames out with iMovie by importing the video clip multiple time and setting the in and out points differently.
You might look at one of the time lapse apps, but I'm sure if they would allow you to edit existing video... you would probably have to shoot some new video for that to work.