Since this isn't interlace, does it still loose quality in iMovie '08 the way that 1080i becomes 540p? If not, this would be the highest quality you could get from iMovie '08.
I like the HD1000 better for video. This one only does 720P at 30fps. The HD1000 also does 720P at 60fps and 1080i. However, the HD700 would be easier to carry in a pocket.