iTunes 11 finaly comes with a brand new App design, a dramatically simplified player, a completely redesigned Store, and iCloud features you’ll love. And in mention of the local movies, when you’ve successfully added videos to iTunes 11, they are listed under Library -> Movies -> Home Videos tab.
However, you’re frustrated that whether you drag and drop your video files to iTunes 11, or add video files from “Add files to Libray” or “Add folder to Libray”, nothing is imported even though the files are in iTunes 11 supported MP4, MOV or M4V video format.