Apple today released iMovie HD 5.01, available via Software Update, which addresses issues related to video and audio synchronization for DV projects and other minor issues, according to Apple’s notes.

iMovie HD is part of iLife ’05 which was recently introduced at Macworld Expo. iMovie HD brings the HD standard to home video editing and now supports HDV, the new high-definition video standard. iMovie HD offers dramatic performance improvements, the ability to create movies automatically, more powerful editing features, and includes an assortment of new audio and video effects and transitions.

More info about iMovie HD here.