What's the difference between Home Movie and Movie Project?

I edit my movies in iMovie. After editing, I 'Share' them to Movie Projects in Finder. There's also an iMovie Home Movies folder that contains duplicates of some of the movies I've created myself. What's the difference between these folders. And, can I delete any of them? Thank you.

A Time Capsule is hardware. It's basically an Apple AirPort Extreme wireless router with a built-in hard drive. For more info on this product:
http://www.apple.com/timecapsule/
Time Machine is a software application that allows your Mac to backup its data automatically to the hard drive on the Time Capsule. For more info on this software, which is included with the Leopard, Snow Leopard and Lion operating systems:
http://www.apple.com/findouthow/mac/#timemachinebasics

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