Yes, there's no need to install Canon's software. You can either:
- connect the camcorder directly to your iMac using the supplied USB cable, or
- eject the memory card card from the camcorder and use a USB card reader
The second option has the advantage of not having to faff about with the camcorder and its power supply on and around your desk.
Once connected, open iMovie '08, and the programme should detect the camcorder and open the import pane.
More information on importing to iMovie here:
iMovie '08 Tutorials
Andrew.