Well, if I had any doubts, they are now gone. iPhoto is good at editing, but Graphics Converter takes it to a new level. Graphics Converter is almost like Photoshop is for macs.
For effects go to filter, they experiment all you like. To convert/export merely put it into iPhoto.
Free download at the apple download page. Edit away!
Tip of the week, incase you didn't know, in iTunes, go up to view, click on visualizer, select one you want, and click show visualizer. Really cool.
Until next time,