I have imovie 05 and Apple mpeg-2 pluggin. From what I can tell, imovie imports the mpeg-2 clip from the hard drive camcorder and converts it to DV. The image quality is lost by doing so.
Is there any benefit of getting FCE4, mainly to handle mpeg-2 clips from hard drive camcorders? Does FCE4 edits mpeg-2 clips natively without any conversion to other formats?