Any chance of success using iMovie for Film Festival Submission?

Question

Say with iMovie, say 11, 09, or my old HD?
Or do I need Final Cut, say Express?
Will I be able to submit a sufficiently high def version using iMovie 11? Or will the degradation be too much, supposing that I edit in iMovie, then burn to DVD with iDVD.
The film will be about 7 minutes and shot with Panasonic GH1 and a Go Pro in HD. There may be slow motion and a mix of ambient sound, voice, and music.
It'll be entirely shot outdoors under somewhat nasty conditions. Meaning no lights, usually no tripod.
The reason I mention these latter points is that perhaps the quality of what I bring back (shaky, low light) might be the limiting factor and not the image degradation.
I have made many iMovies for YouTube, but would like to go bigger, so to speak, in quality of video, not necessarily length.
Would I benefit from going to Final Cut Express? Or could I stick with iMovie?
Anybody out there ever use iMovie for something like Banff Mtn Film Festival?

Answer 1

Yes, Banff Mtn Film Festival:
Here's what they ask (don't actually understand all the requirements, yet)
TECHNICAL REQUIREMENTS
For purposes of pre-selection, judging and festival screening, all
entries should meet the following criteria:
a) Entries MUST be accompanied by one polyboxed DVD-R NTSC
(Region 1 coded), which will be used for adjudication purposes.
b) Entries must also include a tape copy of the master. In order of
preference, videotape formats must be:
HD-D5 HDTV
DVC Pro
HDCam HDTV
HDV
Digital Betacam (525)
DVCam (525)
Betacam SP NTSC
MiniDV NTSC
Digital Betacam 625 and Betacam SP PAL/SECAM will
not be accepted. Due to reproduction issues, MiniDV
format is LEAST preferred.
c) Film entries must be 35mm or 16mm with OPTICAL or
MAGNETIC sound (no double band).
d) Production attributes should conform to typical broadcast
standards and include:
• 90 seconds of leader which include black, SMPTE colour bars
and black with either 0 dbvu (analogue) or –20dbFS (digital)
audio tone reference signals.
• Please remove commercial blacks and include a production
slate prior to the program start.
• 7.5 IRE Pedestal Black (preferred for NTSC).
• Maximum 105% IRE peak whites.
• Program start commences on the time-code hour.
• Program tail of two minutes of black.
• Digital content should be submitted with 48K audio and have
peak whites that do not exceed 105% IRE.