How big is that difference ? Is it approx 1 second delay per minute ? More ? Less ?

I suppose the difference stems from different file formats or misinterpretations while importing. could be 24/25 vs 29/30 fps.

I know that newer imovies have lost some possibilities in sound, but shouldn't it be possible to tweak the speed of the video (with it's audio) to the same speed as the external audio track ? Although, that could give some awkward bucking if pulling up or down for 2 frames/sec.

This can certainly be done with Final Cut, where the Speed/Duration of any media can be adapted.

This can also be done externally in free audio software like Audacity.

But, as far as I know, there is no software which assists in aligning two audio tracks in time.

This really isn't an answer sorry....but my imovie 09 has a major problem. I make lyric videos. But after a short while of adding lyrics to the video i play back to make sure it sounds good. well when i listen to it i press the button to play. the spinning wheel comes up first then it plays. it goes for a good 10 15 seconds before the audio lags and then the video part keeps going. this throws me off a lot and I'm getting aggravated. I can't update because i am on a hackintosh and the 10.6.3 update kills hackintosh's for the time being. Got any suggestions?

p.s. i almost forgot that i have all of my itunes stored on a maxtor usb storage over the wireless connection if that helps anything. maxtor