"Pro Tools is an audio app. Avid Media Composer in the professional editing application, and Avid Studio... is the video/audio competitor to iMovie."
Thanks for the correction re Pro Tools Perrone - you're absolutely right!
1080p may becoming passé, as you say, especially for the cinema industry as they look from jumping from 35mm film projection to all digital projection. However in the television broadcast world, 1080p will be around for quite a while.
Television networks in Canada and the US have just spent billions changing from the old NTSC standard of 525 lines of horizontal resolution to 1080 lines progressive. Current transmission bit rates can be as low as 4megs per second, it can be really bad on cable tv or by satelite tv creating pour images, which is why using a proper HD antennae to pick up TV signals broadcast over the air - will give the viewer a way better image.
Sorry for going off-topic everyone (as alluded to by Howard, below) - but then, still cameras have kinda gone off topic too, from shooting only stills, to now shooting many - in the form of video!