Importing DV tape recorded in LP Mode

Also, this from iMovie Help titled "My camcorder won't communicate with iMovie HD"
Check your camcorder's documentation to determine how to view and set the video recording quality. The quality levels are usually called "SP," "LP," "E-SP," and "E-LP." When you use your camcorder with iMovie HD, make sure the recording quality is set to SP, even if you recorded the video at a different quality level. SP and LP modes work well when you record video that you plan to import into iMovie HD. Before you record using other modes, you should try importing a sample recording first, to make sure it is compatible.

I re-recorded using the SP mode with the same results. On the camcorder, the video seems perfect. The video fills the whole screen. Imported into iMovie, it seems there's a little space at the top & bottom of the project window with some digital noise going on in that space. I know that doesn't explain it well, but the imported video is just not as smooth looking as it is on the camcorder.

Hi catspaw & Karsten & thanks for the replies. I originally recorded about 80 minutes of VHS tape to Mini DV using the LP recording mode. Then after reading Karstens reply, I re-recorded from the VHS tape to Mini DV using the SP recording mode. Both methods produced imported video into iMovie that seems to have some digital noise at both the top & bottom of the project window. Also the video seems like it jumps around slightly. Almost like a slight live video stream effect. That's the best I can describe it. On the camcorder screen, it plays smoothly with no digital noise on the top & bottom. I haven't played the DV tape itself in the camcorder to the TV yet to see what that looks like. But as far as iMovie goes,I'm assuming that in general what I see in the project window will be on the finished DVD burn. So since iMovie appears to support both SP & LP, I'm wondering;

1) Would it make a difference if I used the pass through on the camcorder & imported directly from the VHS player to iMovie?
2) Is this just the result of taking a 30 year old analog recording & converting it to DV?

Thanks Karsten,
I'll go with it the way it is if you think that the "garble" will vanish on TV. I just thought if I could clean it up some way before I burn it to DVD it would be nice. One more question; Do you think clearing the iMovie Cache would be of any benefit? (~/Library/Caches/iMovie HD). I marked you helpful for that tid bit of info!

Thanks all, I'll work on it tonight. You both were helpful. I'll let you know how it turns out & mark the thread solved or answered after I reply.

I finished the project to iDVD & as both Karsten & catspaw said, the "garble" (I was calling it digital noise) does not show up on the finished project when viewed on a TV. Lesson learned. The video also played nice & steady on the TV, again unlike it played in iMovie. Thanks again!