The good news is that it is quite fun to have IMDb data in an SQL database, as it allows a great flexibility in terms of queries you can do, much more then you can get out of the website. So you can get a list of all Sci-Fi movies in which an actor plays that also played in Terminator 2 and things like that. Which makes it a great way to discover new movies, which otherwise would be hard to find.
The bad news however is that I found SQLite to be incredible slow for the task. The basic import, of just a subset of the data already takes around two hours, generating the SQL indices then takes another eight hours.
Code is a bit of an unfinished mess and might not receive much further development, but for those interested, it is available via:
git clone http://pingus.seul.org/~grumbel/imdb.git