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No that the way it has to import, I know its slow but it gives you time to over look what you recorded. If you have a hard drive camera I think it just gets draged from the drive into imove.
It takes the same amount of time it takes to shoot the video. So if the video is an hour long then it will take a hour to capture the video. This is true for miniDV, I don't know if this is true for video in miniDVD or hard disk drives.
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