Hello jschmi,
I found a couple of resources that I think will help with importing video from your Sony HDR-XR200 camcorder.
First, I recommend reviewing the following video for general information about importing video into iMovie:
iMovie ’11: Import Video
http://support.apple.com/kb/VI104
I also recommend the article below, which includes step by step instructions on importing from a camcorder. One thing specific stands out to me from the article that I think is important to make note of:
iMovie can take several minutes to more than an hour to import the video and generate thumbnail images of each clip, depending on how much video you have. The progress indicator in the Import window shows you how long it might take.
iMovie '11: Import video from a USB camcorder or camera
http://support.apple.com/kb/PH2143
Thank you for using Apple Support Communities.
Best,
Sheila M.