I just bought iVideo a couple months ago for $20. It is basically just like iPhoto, but for organizing your videos. I shoudl have just waited and saved that money for this. Oh well, I am still going to order it, it will be nice to have the videos I take with my camera in the same program and in the same roll as the pictures I take.
As everyone else has said, to me, I am willing to pay the money just for the more advanced editing features in iPhoto. My dad has PhotoShop, but it is too much for my needs. I just need some basic fixing ability, and iPhoto is very straight forward and at my level.
I am looking forward to the new GarageBand too. The music notation is going to be the most important to me. I am learning the piano, so the multi track recording isn't that important to me. It will be great to fool around and have the stuff I create right there after I am done. Anyone know if you can then print the music sheets? I couldn't find anywhere on their website that you can.