Is iM the right program for me to use?

I am jumping into the world of video blogging or as the macworld calls it: video podcasting. I have never done anything video before. At first I was thinking iMovie will be the program I need. But the more I read about it, the more I feel that iMovie is not for me. Am I right?
I need a program that can create a film:
1. that is able to help me cut videos coming from my iSight webcam, and can separate audio from video.
2. that can also do the same for video from my digital cam, (soon to be Casio Exilim Z70) ... I don't care if I need to convert formats, as long as it is doable without much loss in quality
3. that can then take this video and save it in a format usable for a podcast and can then be used on YouTube or a personal site.
The more I look into iMovie, the more I see a tool built for home videos, and the idea of creating files that are then recorded back to the tapes. What I need is a program that can create short digital films in resolution such as 640x400 that can be used online. Could iMovie be this program? Do I need any additional programs?

"lossy" means: you lose pic quality... stutter, artifacts, strange colors...
you don't need to spend 500$, the next garagesale probably offers an old one for 75$ ...
how they do it? ask them, not me, me no kid, me no blogger ...
to get a little ... "old man philosophical":
the claim is: cheap/free, fast, easy ...
the truth is: if you have no skills & talent, you have to pay others to help you..
iM helps you - within its limits; using it outside these specs, makes it neccessairy to understand underlying techniqués and methods, to find workarounds .. if you don't want to spend time & sweat ... go back to field "start"..
iM is made for miniDV camcorders, if you prefer to use other devices, use the software included with such devices; if the included software isn't Mac-compliant, get another computer... - that easy.-
I've seen youtube-uploads from mobile phones.. ok.-
not my cup of tea.
coffee.
cappo ...-

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