An update! Believe it or not! iMovie and Sony Vegas Movie Studio...
I haven't been posting much to iLife for Windows recently, and I apologize for that. Part of this comes from the fact that I've been playing around with Sony's Imagination Studio Suite 2 since the summer and I have to say I really like using this software. It provides a lot of the content creation benefits of iLife, although not all, without having to purchase a Mac.
One of the first things that stood out for me when using iMovie vs. Sony's Vegas Movie Studio (part of the Imagination Suite) is that iMovie is pretty simple to use, and is similarly limited in its editing abilities. And Vegas Movie Studio doesn't quite have all of the extraneous title and other video prettiers that iMovie has. That said, I don't actually miss it when I'm using Vegas. Sometimes it feels like these are included to pimp up what might not be as solid content. With Vegas Movie Studio, you get straight into the editing interface, which is different from iMovie. It's not quite a fair comparison between these two programs, Vegas Movie Studio has more to compare with Final Cut Express than with iMovie, and it shows when editing your workflow.
That's just my quick take, I like both packages, but Vegas Movie Studio does have a little more of a "grown up" feel to it.
Snoochie Boochies!
Benson

