Looking for iMovie Insight

I am looking for someone with experience using Apple's iMovie product to create composite videos from multiple sets of input clips. My particular concern is work flow hints.

I have three input videos: a live camera shot of the presenter, a live camera shot with microphone-based audio of the projected screen, and a live screen capture of the presenter's computer. Most of the video wants to consist of the second and third segments, taking the video from the screen capture and replacing its audio track with the audio from the camera mike. But there are a half-dozen places where I want to do cutaways to shots of the instructor and/or audience members from the first camera.

The problem I have encountered -- and it's a logistical thing, I think -- is that when I trim clips out of one of the videos and move it into the project panel, overlay the audio and then find a need to edit one or the other, time codes get out of whack. So I can no longer easily find a particular segment of the project in one of the piles of clips. Am I making sense"?

Anyway, I suspect there's a way around this that probably involves approaching the project in a fundamentally different way from what I've been doing. If anyone has any suggestions, I'd sure appreciate them. I'm a relative neophyte to video editing but I have spent a good bit of time learning FinalCut Pro (which I'm not using for this project only because it feels like overkill; maybe that's my first mistake?) and although I've forgotten much of it I'm sure I could pick it up again with a few days of study and practice.

If you have any ideas, please post a reply here (if you're a member or want to become one) or email me at dan_at_shafermedia_dot_com.

Here's the answer I got: A post on the imovie08 blog by a helpful guy named only Aaron.