Apple has released iLife ’08, the next generation of the popular image and sound management package. It’s available in stores now and you can get a rundown of the new features here:

It is important to note that the new version comes with iMovie, not iMovie HD as in the previous incarnation, and does not contain some features of the previous version. Apple has made iMovie HD 6 (the version that came with iLife ’06) a free download to iLife ’08 customers for those who need or want those features.

If you already have iLife ’06 installed, you should already have iMovie HD installed. Otherwise, you can download iMovie HD 6 from here:

(In case you’re wondering, the new iMovie does not accept third-party plug-ins and does not contain some of the more advanced editing tools, but I cannot find more specific information than that.)