On Apple.com's splash screen today, video editing is front and center. The newest version of iMovie is proudly displayed on the iMac computer in the middle, for good reason. The entry-level app has been revamped for '08 with a grip of new features to help the video enthusiast. One feature that we're happy to see is support for more emerging video formats. Now, most video shot with consumer camcorders and still cameras can be edited on the timeline. AVCHD shooters, rejoice! The video "skimming" feature is also appealing. It aims to make video editing less time consuming by allowing video to be viewed and edited like text in a paragraph. Highlight, copy and paste, you get the idea. The interface looks like it takes after iPhoto and Final Cut Pro, with better design elements overall. Full screen video previewing and organizing seem like nice additions . We also like the idea of the Video Library which has iTunes-like organization where videos can be added as "Favorites".