Apple today released iMovie '09 8.0.5. In addition to improving support for importing video captured using the latest iPod nano, this version introduces support for iFrame, a video format employing H.264 video and AAC audio compression.
According to Jim Dalrymple at CNET and Peter Cohen at The Loop, iFrame is a format developed by Apple. It's currently available on two cameras introduced by Sanyo this week: the Sanyo VPC-HD2000A and the Sanyo VPC-FH1A.
What's notable about iFrame is the capability to edit the footage natively in iMovie; footage recorded to memory or to hard disks using the widely-adopted AVCHD must first be transcoded to AIC (Apple Intermediate Codec) before editing. iFrame promises to reduce the time it takes to start editing and also reduce the amount of disk space used by the video. iMovie '09 8.0.5 also fixes an issue with resizing the application window during playback.