Real difference between Final Cut Express, FCE HD, Final Cut Pro, iMovie

I have used iMovie HD 6.0.3 to make a very nice 10 part documentary. Now I need something stronger - capable of producing more than 45 minutes of audio/video, with commentary and music, incorporating photos and transitions that I choose. I understand that iMovie 08 is more automated than 06 so I don't want that. What is the next best step up for my needs? I plan on buying a new processor for this work - one that runs at top speed.

Both FCE and FCP will do what you want ... obviously.
Both will allow you to do keyframing, have a wide choice of transitions (pretty much the same for both) can do basic audio mixing; both will allow you the same number of video and audio tracks.
FCE is a DV/HDV program only. If you are exporting to DVD you can use iDVD or toast and if your programs are not particularly long, say in the 90 min range you will get very nice results
FCP is a studio; comes bundled with some very powerful apps including DVD Studio Pro and Compressor which gives you far more control over your DVD creation.
FCP is also more suited to "broadcast" concerns with tools like Color and its ability to handle a wider variety of video imputs that FCE; FCE is DV/HDV only
FCP also has more tools like batch capturing and media manager that may make working with large projects with lots of footage easier
For the last four years I have used FCE to produce long form live envent videos and shorter corporate promotional pieces to DVD and it has done that work nicely.
FCP allows a wider range of export options but you can also acquire that with FCE by purchasing Quicktime Pro (it comes with FCP)
FCP is far more expensive. Yes, you get more apps with it but FCE comes with versions of two of them, Livetype and Soundtrack
Bear in mind that both these systems are VERY different from iMovie and there will be a learning cure. It requires some patience and the ability to put iMovie's workflow out of your head.
Switching just before any kind of deadline would not be a good idea

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