Photos: Apple unveils new iMacs, apps | BNET

The most significant upgrade to the iLife suite was to the iMovie application, which changed so much the company decided to give it a new icon, Jobs said. Mac users can create short movies of their home videos with iMovie, but before this new version came out, it was very hard to create a short movie in a short amount of time, he said. The new version lets users drag and drop video clips into a movie template, where transitions and a soundtrack can be added.