Best way to edit in audio first for a news story type edit

Whats the best way to do a news story type edit?
I want to lay down audio narration ( voiceover track ). Next I want to add picture. I want to have some flexibility to edit and move around parts of the voiceover track. I will also want to be able to move the video clips around. What's the best way to do this?
Which method would you use? All ideas are welcome.
So far I hear:
1. Edit in a text track ( as a placeholder ) the length of the proposed narration
2. Add audio ( narration)
3. Add video clips
Additional questions:
A) When I add video clips, should I do cutaways? Which offers the greatest flexibility?
B) If I do use cutaways will I eventually be able to delete the original placeholder text track?
Thanks everyone. I'm trying to get a handle on iMovie. Your responses are helpful.
-CraigarJ

I think I answered in your other thread.

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Best way to edit in audio first for a news story type edit

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