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One of iMovie’s most coveted features is its green-screen, or “chroma-key” tool, which allows you to place your characters in exotic locations—Hawaii, say—at a moment’s notice. Want to overlay the scene with “Somewhere Over the Rainbow”? iMovie ties directly in with iTunes and GarageBand, so you can easily implement custom tracks and sounds. When your movie’s finally ready to ship, release it into the wild using iMessage, Facebook, YouTube, or any other of iMovie’s succinctly connected platforms.
Video editing is one of the most computing-intensive activities around, so you'll want the best laptop or desktop you can afford if you're serious about cutting your own movies. Most applications help speed up the editing process by creating a proxy file of lower resolution, so that normal editing and previewing aren't slowed down by the huge full-resolution files.
Other recent features include a basic audio editor, the option to make previews for apps you’ve developed, and the even ability to make your own movie trailers complete with transitions and end credits. It’s not a tour de force in terms of video editing, but it’s perfectly suitable for home videos and minor projects. Consider combining it with free audio recording software!