I have 4 and 8 - but which is the BEST version to use for a big project?

I have a G4 Powerbook with iMovie 4.0 but have never been able to do a movie longer than about 35 minutes (the last step - burning it?). I also have access to a new Intel iMac that has iMovie 8.0 but I have heard this is a 'dumb' version. I have an important video project coming up - probably 60 minutes when all is said and done. Can I install 5.0 or 6.0 on the new iMac? Or should I get new software (Final Cut Express?). I don't know that I trust the Powerbook to pull this off but I do know the program. Any help advice, most welcome. Thank you! Lee

You can download iMovie 6 here (requires iLife '08)
http://www.apple.com/support/downloads/imovieHD6.html
iMovie 4 is capable of handling long projects. If you run out of hard drive space, that is a limitation. DV is 13GB per hour.
Or does your iMovie projects consist of an incredible amount of very short clips? iMovie 4 handles up to 999 clips or 999 still.
Why do you still run iMovie 4.0, when there is a free update to 4.0.1? (Or it was just a typo?)

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