Does the 2GB file size limitation also apply to SimpleMovieX ?
It depends. SimpleMovieX is built on QuickTime technology, and it inherits from either features and limitations from its QuickTime underspinnings. One of this limitations is a 2GB file size limit for mov files. Luckily, this limitations does not apply to imported and exported files in other formats, like dv, mp4 or mpg. This means that you can perfectly edit a 5GB MPEG2 and then save it as MPEG2 (but not as mov).