IMovie08 as a rough cut editor for FCE4?

Hi All,
(I know there was a reference by Euisung Lee on this topic but no replies are currently allowed hence this new post...)
http://discussions.apple.com/message.jspa?messageID=5317430
I'm interested in the experience of anyone using iMovie08 as a rough cut editor for FCE4.
Why do I want to do this?
* I love the sheer speed of putting together videos, even lengthy ones, in iM08.
* Also the integration with the iApps
* Love having an accessible skimmable library of all my DV
What I can't really live with in iM08...
* The poor titling facilities
* I've been trying the titling workaround noted in Karsten Shluter's website (ie. import a semi transparent TIFF or PNG from Photoshop and drag it onto clips). This works great except for one of my key projects where iM08 accepts the image file as normal, but doesn't display any overlayed image in the viewer.
* Also concerned about the loss in quality on export (for DV files)
So...I'm thinking about the following workflow...
a) import DV to iM08 (no loss in quality)
b) within iM08, perform rough cut video selections, and intersperse with image files from iPhoto (gives a documentary feel with video + stills)
c) export XML to FCE4
...I understand in this step that audio, transitions, KBE, adjustments, titles etc is lost in this process, but I'm assuming that the cuts and also the interspersed photos are retained
d) so then in FCE4 perform the titling, KBE on the photos, edit the audio and do any effects such as slowmo etc...
I'm hoping this is a 'best of both worlds' solution in that I keep the speed factor in pulling together the backbones of the project, but also gain the functionality of FCE4 for the other components.
My questions
1. Does this work effectively - has anyone tried it? Any traps which would make it more cumbersome than I'm anticipating?
2. Does FCE4 need to re-import or convert the original DV clips referenced by the iM08 XML. Does this duplicate the source files? Is there any loss of quality in the files then used in FCE4.
3. Following from #2, will the export quality from FCE4 be superior to what I'm currently getting in iM08? (Noting that the majority of my output needs to end up as a DVD...not yet living in Steve J's DVD-less world yet)
4. Has anyone run into the same titling/image overlay problems as I'm having with iM08.
A big thanks to the regulars who provide a huge source of great info here for us all...

Hi Joey,
thanks for appreciating my post ..
.. do you think using iM08 as a rough cut editor in this way could work?
I guess, that is a way..
when iM08 araised, in one of my posts, I said, skimming would be on my wishlist for FCE4 .. skimming is, imho, excellence in UI design.. a 'switchable' timelne in FCE (skimming mode/timeline mode) would really speed up editing.. (if speed is an issue )
.. it appears that this workflow would also get me around the iM08 export quality issue.
as far as I understand the process, there's no loss in quality in this process.. the xml is just 'in-/out data' (like Midi in audio processing) and you transfer/clone the raw imports from iMEvents to FCEproject... I'm not indepth will this workflow, I guess, you double the data = hdd space issues.. but, +you never have enough space while doing video+ ...
.. It sounds like putting KBEs into photos is harder in FCE than iM08
I'd like to phrase 'different' ..
less intuitive, but with much more options (e.g. rotation, transparencies, multi pic, drop shadows ...) and with more control (e.g. no automatic 'smoothing'/acceleration as in KB/iM, creating 'paths' of movement .. .)
with some craftmanship, you could create a slideshow looking like those 'Themes' in iMHD6/iDVD ...
fo sure harder, but imho .. better ...
.. _I assume_ that FCE4 would operate in the same way as FCE3.5
me too, vers3.5. here, no hands-on on vers4 ...

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