This is test 2. So this time I decided not to upload the video direct to YouTube from the iPhone. The iPhone compresses the file before it uploads so you will never get the quality you thought. Seems silly to render you video in iMovie at 720p. Then in your next step export that movie at whatever rate the iPhone decides to compresses that file to.
Lets see if this is any better quality than the upload via iPhone 4. Mind you it did feel totally illogical importing a movie into iPhoto, that just felt all kinds of wrong.
