What a pain. All I wanted to do was speed up a video I shot. Apple dropped a bunch of features (including time stretching) from iMovie between ’06 and ’08. I only have ’08 and Apple no longer lets ’08 users download ’06. I tried other video apps I have. Norkross? Nope. Handbrake? Nope. FFMpeg? Nope. VLC? Nope. Much searching and experimenting didn’t turn up a solution so I resorted to the command line. Mencoder.

Here’s what I cooked up. It’s sloppy and the codec options aren’t thought out at all, but it worked and maybe someone else will find it useful.
mencoder original.mov -speed 1.4 -ovc xvid -xvidencopts vhq=1:pass=2:qpel:trellis:bitrate=1500 -oac mp3lame -lameopts abr:br=128 -srate 44100 -o new.avi

I’m sure this will work with mencoder in Linux and Windows also.