IMovie says I have 700mb/3min left for videos but my HD has 250gig free???

I'm trying to import more videos into iMovie but it says there's only about 3 minutes/700mb of storage space available.
This makes no sense because my HD has 250gig of free space... WOuld somebody please tell me what I'm missing here?
Thanks.

Hi
If You only got one hard disk in Your Mac and NO external ones.
And this is not "Partitioned" into simulation to be more than one (no good idea here)
Then most probably iMovie Pref file has got an error = corrupted (very common problem)
Either find com.apple.iMovie.plist file and trash this - iMovie will make a new one
when started next time (iMovie can not run - when trashing this file)
or
Start a new User account and log into this and re-try (this makes a full new set
of various pref files - all without any errors)
AND Start a new iMovie project (and re-import to a new event) - Just to prevent
any errors in the video material.
(use of strange video material - also can provoce this kind of errors eg .avi, .wmv, .H264 (?) ,
.mpg4, .mp3(audio) etc.)
Yours Bengt W

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