imovie_08.pngiMovie 08 has finally got its own file management system, or rather the library management (just like iPhoto and iTunes), and things look better than ever before. You open the iMovie and all you need is right there.

But there is one problem with this – the size of the library. Try importing half a dozen of your DV tapes onto your hard drive and you’ll see what I mean. One hour of digital video takes about 10GB on your hard drive.

Thankfully there is a way to get around this. Nik Friedman has developed a script that will compress your videos down to approximately 30% of its original size, with a minimal loss of quality.

Head over to iNik.net and get the script, it’ll cost you only a thank-you-Nik line.