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I don't want to have to import my photos to my machine, I would rather keep them on my external had drive and.
No problem, just go into iTunes -> Preferences and uncheck the "Copy items to iPhoto library" before importing your photos:

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The idea of my precious photos being in a single file (like Outlook uses for email) horrifies me. (I save my emails as files to circumvent problems.)

The iphoto library is not a file but a folder, right click and then show contents will show you the contents.
 
I'm waiting for my first Mac, an iMac 24" 2.8GHz, and am wondering whether I can use iPhoto without having my photos in a single file/library.

At present, my photos are in folders named by place, with subfolders named for various things (people, holidays, houses, etc).

The idea of my precious photos being in a single file (like Outlook uses for email) horrifies me. (I save my emails as files to circumvent problems.)

To import those photos into iPhoto and keep your organization, you will need to import them folder by folder. Time consuming, I know, but it will preserve your organization, and so in the long run will be worth your time.
 
iPhoto '08 slow on brand new iMac

I've just finished importing my 17,500 pictures (30+GB) into iPhoto. I then began creating events to split up my photos. Some events are small (20 or so pictures) and others are larger (upwards of 1000). When I got about 1/4 through my library, iPhoto started acting VERY slow, freezing up for 5 - 10 seconds at a time every time I tried to scroll up and down the Photos view, move pictures to a new Event, etc.

People above have said that iPhoto can handle this many pictures and that I shouldn't have to create multiple libraries, but right now I'm not noticing the same thing...

thoughts??

i'm running a brand new iMac 24" 2.4GHz 2GB ram 500GB HDD OSX Leopard

-Scott
 
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