David Pogue: Apple Takes a Step Back With iMovie '08. iMovie '08 owners can download iMovie '06 from Apple's web site, and it's worth keeping both around.

Pogue's article says Apple says they'll make up the difference in "free software updates, like we always do." (I gather Pogue is paraphrasing.) I have a very hard time believing that they'll add a timeline view, audio editing and filtering, and chapter markers to iMovie '08 via Software Update, even if they are embarrassed. New features are for new major versions, and those take at least a year. I'm guessing iMovie '08 owners will have to buy it a second time next year to get the new features and the old features in one product.

$300 for Final Cut Express is starting to look like a good deal after all.