Personally, i have to disagree. As far as super entry level editing programs go, iMovie HD is pretty damn awesome. I agree that some of the things have been TOO dumbed down though. However i definitely wouldn't say Windows Movie Maker is better. Anything i have ever made with it (actually only one thing to be honest) always comes out slightly messed up when i export it, things like audio being out of sync and stuff. iMovie hasn't had that problem for me. Just generally speaking i find it to be much better.
Everyone is entitled to their opinion though.