Apple just released iLife '08 yesterday. Lots of changes - as usual. Especially iMovie. iMovie 8 is a completey new application. Not an update, a complete rewrite.
Some people however miss some of the features that were available in the "old" iMovie 6 HD, especially related to audio tracks.
If you had iLife '06 before, iMovie 6 HD will still be on your harddrive somewhere. If it's not (either because you removed it, or you only had an older version of iLife before) you can now get iMovie HD 6 for free on the apple website. This offer is only valid for those people that already own iLife '08, which at 79$ is a steal IMO.
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