Help! "An Unknown Error Has Occured'

Help! I've spend hours putting together a slideshow/movie in iMovie and have run into a problem that I can't seem to fix. I can no longer place any transitions between clips. I either get an "Unknown error" message, or the transitions (or any other changes, for that matter) won't render. They just hang there with the red bar looking like it's completed the process, but hasn't. Then, in order to exit, I have to stop the rendering process altogether. I've deleted the plist, but that didn't do anything. I've relaunched iMovie a bunch of times, and have even restarted the computer as well, just to see if that would help...no luck.
Any advice will be greatly appreciated. I'm on a deadline and have lots left to do!

Thanks for the suggestions. I am using a new Intel iMac and iMovie 6, both for the first time, so have had no previous files of any sort to import. In fact, I've never had any previous version of iMovie on my computer.
In spite of it being new, be sure to look in the folders that were mentioned in that link for any third-party iMovie plug-ins and QuickTime add-ons. They may be there and may be causing trouble.
Stuff may have also been transferred from your old Macs to the new if you used Migration Assistant to transfer files.
http://discussions.apple.com/thread.jspa?messageID=2066632&#2066632
Any additional thoughts on the matter?
There's sufficient free disk space, right? If iMovie can't find the disk space it needs it won't be able to render the transitions.
You might try creating a new user account. If the problem disappears when running iMovie as that user, there's a software conflict affecting you as the user.
Here's a Topic with a similar, but different problem:
http://discussions.apple.com/thread.jspa?threadID=566576&tstart=0
Karl

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