mmm...
I recorded a video with Snapz Pro X... I didn't need to add any special effects or anything... I just wanted to put the video on YouTube real quickly... so I tried importing my video to iMovie '08. It wouldn't accept it. It's not an issue with the file because iMovie '06 opened it just fine.
So apparently when adding support for those other file formats they removed several others.
'08 is awful. I hope the next version is based off of '06... they can put the skimming feature in and support for the new cameras into that. I'm sure it's much less work than trying to replace the hundreds of transitions, effects, titles, etc, that '06 had.