MPEG-4 iMovie issues....Help!

Hey Everyone,

I just ripped a DVD to my hard drive via HandBrake (homemade DVD not a movie or anything like that) and the resulting file turned out to be about 1.5 Gigs.

Now, I want to take this movie and cut particular clips out of it for two reasons:

1) I tried importing the entire movie in iMovie and it looks like its going to take a full day to do it (too large)...I cancel it typically

AND

2) Its a football video so I only want 10% of the stuff in this video.

Someone help. How can I open the video, easily cut out the clips I want and save them as their own movie files...then import them into iMovie for individual editing?

 

Great thanks....do you if Quicktime Pro ($30) does this also? It looks like it does, but of course if I can find a good free program, Id prefer that.