That camera records directly to DVD (specially multiplexed MPEG-2 video and MPEG 1, Layer 2 audio formatted as VOB files). To get the footage to work with iMovie or FCE, you'll first need to finalize the disc in the camera after recording. Load the finalized disc into your Mac's DVD drive, then use MPEG Streamclip to convert the DVD's VOB files into an editable format.
Bear in mind that the Mini DVD discs that the camera records to should NOT be used in any slot load DVD drive, such as those found on Mac laptops and iMacs without an approved adapter.
Alternatively, you could use the camera's analog outputs connected to a qualified DV device (DV camcorder, VTR or converter), then connect the DV device to your Mac via Firewire for capturing.
Either way you'll be losing some quality; first and foremost by recording in a highly compressed format. And if you use the second method, you'll lose even more quality via the analog outputs.
-DH