Apple announced the new iLife 5 suite at MacWorld Expo and included in that package is the new iPhoto 5 with many new features, most importantly for us digital camera users it now handles uncompressed RAW images. And it has a compliment of advanced editing tools including the new Adjust tool to optimize the color balance, exposure, saturation, sharpness and more.

You’ll even find tools for straightening horizons and adjusting color temperature. Import video clips and keep them organized with the still images captured at the same time / event.

iPhoto 5 includes a new advanced slideshow builder which allows users to easily apply effects, transitions and durations to each individual slide. iPhoto 5 features an entirely new way to create affordable hardcover and softcover photo books, now starting as low as $3.99. iPhoto 5 lets users choose from stunning new book layouts, all featuring double-sided printing, and easily place and rearrange their photos until perfect, then order their book online right from within iPhoto 5. With iPhoto 5, Apple is also cutting the price of individual 4x6 prints in half, from 39 cents to just 19 cents each.