Can't save iMovie 3.03 Projects

[Carlton Kelly]

I'm an iMovie newbie and no matter how I try, I'm unable to get iMovie 
to save my projects. I'm using iMovie 3.03, Jaguar 10.2.8, a 450 MHz G4 
Cube with 832 MB RAM and 9 GB of free hard disk space. The file system 
is UFS.

1. I create a new Project.
2. I save the Project.
3. Connect the video camera.
4. Import a few clips (about 1 GB worth)
5. Switch to editing mode.
6. Drag one of the clips to the Clip Viewer.
7. Make a few minor edits.
8. Save the Project.
9. Quit iMovie.
10. Launch iMovie
11. The first indication of trouble...
12. I get the "Stray Clips" dialog box asking me if I want to move 
stray clips to the Clips Pane. (these are all of the clips that I 
imported just a few moments ago). I select the "Move Files To Clips 
Pane" button.
13. The clips are moved to the Clips Pane, but everything I did in the 
previous session is gone.
14. I've tried

I've checked the file system during the whole process and the clips are 
moved to the appropriate Media folder and the file permissions for the 
directories and files have me listed as the owner. I've seen some posts 
about permissions, but I don't see anything amiss from that standpoint.

Any suggestions would be greatly appreciated.

Carl