Randy Ubillos (Apple’s chief architect for video applications) Showing off iMovie ’11:

New Audio changes to Audio levels.  Audio effects. Jobs confirms that improved audio editing features were the main user request within iMovie One stop audio effects People Finder (like iPhoto’s feature)

New Video effects, slow motion, flash and hold last frame. Hold last frame is cool — lets you freeze final frames of a movie with Ken Burns effects, or make a still for transitions 15 Movie Trailer templates, You can fill in titles, dates, cast. Can put in studio logo.24 FPS option.  Looks cute. Story board tab, you can see pacing and timing of the clips for the trailers.

Sound bites from London Abbey Road studios with London Symphony Orchestra.  Is that the best they could do? More Sharing options: Facebook and Vimeo and CNN iReport!??!?!