It is easy. The only thing about it is that since it is made very simple, any advanced functionality is either limitied or pretty well "hidden". While iMovie handles exports and many visual effects very nicely, it e.g. lacks the ability to add more than 2 audio tracks to a video. Granted, for home use that's unnecessary, but I needed it once and had to go through a rather painful process to make it work (I used Garageband Movie Soundtrack feature).
So basically, yeah, it's **** simple. And it's chock full with features. It just needs some getting used to in terms of how these Apps behave. Like where they store stuff. You should never, and mean never, bother much about how iPhoto stores pictures. Just let it do it's thing and use the interface.