It seems like the steps right now are:
- Shoot movie
- sync iPhone with Mac via iTunes
- Open iPhoto
- Import photos from iPhone into iPhoto
- Open iMovie (or retart if it was already running)
- On startup, iMovie detects videos in iPhoto and imports them.
Yikes. Is there an easier way? It's a bit odd that the videos are handled as photos, in the first place.
And no, I'm not jailbreaking my iPhone simply to save me a few of these steps.