iPhone 4 correct video import process

OK so i understand the correct process for importing photos. They go in your camera roll, until you import them into iphoto then they get re synced back to the phone to the photos app. Kind of a digital representation of old fashioned getting your film developed.
Now, how is video supposed to work - i cant figure this out. You shoot some video. It again goes into camera roll and is synced into iPhoto (???? even though its not a photo and is a video). Because this is video at this point nothing happens to it as it is not resynced back to your phone in a more organised place - iPhoto doesnt sync video to the photos app on your phone. Thought apple would have given video a home like photos live in the photo app, video perhaps lives in a video app or even iPod (same as other videos/films you have on your phone). Video just seems to float in no mans land does it not?
MacBook Pro 2.66 4GB Mac OS X (10.6.4) 1TB Dual TC, iPhone 4 32GB