Jeffrey found a utility companion to iMovie.
VideoProc starts with a simple interface with four basic options, simple Settings, and a great Toolbox. The options are obvious– Video, DVD, Downloader, and Recorder. The latter lets you record whatever is on your Mac’s screen and save it as a movie. The Downloader can pull videos from YouTube, Facebook, and elsewhere, then save them to your Mac in whatever resolution or format is available.
It even rips DVDs and downloads YouTube videos.