OK, I've had a lot of trouble with the latest iMovie when it comes to video formats: it's pretty picky about what it'll import. Well after the latest update today, I can now import AVI movies. Tons of movie-capable cameras take videos in this format. This is huge! No more converting or quality loss. This is what stopped me from purchasing the camera of my dreams. Try some other video formats to see if they work. Edit: Please post your camera model and movie/file type if it works with iMovie straight from the camera with no converting.