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An iMovie is still a raw assemblage of media types in a format designed to speed editing. It isn't meant to be space-efficient. Once your iMovie is ready you need to use File->Export. That's where you decide on purpose (iPod, DVD, web, etc.) and quality.
As an example, I just captured 20 seconds of continual movement with an iSight camera. The video alone takes 17MB. After exporting to MPEG4 with default settings it takes 1MB. To QuickTime for web (12fps 320x240 with stereo sound) it becomes ~1/2MB.
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There are a vast number of people who are uninformed and heavily propagandized, but fundamentally decent. The propaganda that inundates them is effective when unchallenged, but much of it goes only skin deep. If they can be brought to raise questions and apply their decent instincts and basic intelligence, many people quickly escape the confines of the doctrinal system and are willing to do something to help others who are really suffering and oppressed." -Manufacturing Consent: Noam Chomsky and the Media, p. 195
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