I’m not a big home movie guy but I do appreciate those that can pull one together really well!
Generally it’s because I don’t have time to edit movies, add the title texts, music, and all that other nonsense that makes it killer. But the new iMovie App now available for the iPhone 4 might change that all of a sudden.
Check out this test movie I threw together in literally less than 2 minutes:
I literally grabbed 3 or 4 videos that were on my phone, tested some features, and then exported.
Wow. I’m pretty impressed! You can do some serious damage with this app and so far I think it’s going to be well-worth the 5 bucks that I paid for it.

hmmm… “all that nonsense” – I can see a few media types getting twisted knickers over that throwaway line
I thought the imovie app was included in IOS4 but guess I’m wrong there…. I’ve not yet upgraded to v4 (waiting for most issues to be sorted first) but will likely grab this app when I do.
A co-worker and I used two iPhones 4 to make a 3D video yesterday. We couldn’t edit that in iMovie, of course, but we thought it was interesting to shoot with the phones.