Apple video editing software loves .dv files.
A .dv file is a fairly uncompressed video format which is commonly found on the Macintosh platform. Despite its size it works seamlessly with both iMovie and Final Cut Pro.
By seamlessly I mean that it is not necessary to render your footage in Final Cut Pro and cuts take no time at all in iMovie.
How do I get my footage into .dv format you ask? Not a problem, you'll use Visual Hub of course. And here's how: