I've upgraded to the latest iMovie, specifically for the better timing option. (The rabbit/turtle designer was on *crack* -- not only is it not subtle enough, when you use it and then export, it becomes a mess of pixelization). I'm still slightly frustrated with iMovie, although if I were actually making *movies8 I might not be. iMusicVideo it is not.

I've considered trying out the new (free) version of Avid. It lets you have two video tracks, for example. It's a stripped down version of a very powerful program. I may find it confusing, but it's free, so there's just the time investment to worry about.

http://www.avid.com/freedv/features.asp