"This is my quick analysis of why people are freaking out about Final Cut X.
This tool is how we make a living for a lot of us. We have been waiting 2 years for fixes and updates, while competing software got all the bells and whistles.
You know something is wrong when the first thing you see when trying to import a project is "import from iMovie" and nothing about Final Cut.. strange, isn't this final cut ?! No option to actually "Open" a project, as the project has to reside on your machine, split into a bunch of different areas. So forget about having multiple editors passing the project around, like most studio. (The save structure is a clone of iMovie's...)
Work with the Red camera, an industry standard, nope not supported. Need to do Color grading, for your movie or commercial, nope, can't output to anything. (And this one is a killer, no more color grading, no more outputting your sound to pro tools or other sound design tools) Are we all supposed to accept that quality should takes a serious drop?
Use it on a TV show, like Conan's, nope doesn't support multi-cam edit.
The footage changed location, because you had to copy it to a raid or whatever reason, nope, copy it back or it won't work, no "find footage" option. If it moves, you're fucked.
Have an HD broadcast monitor to make sure everything is perfect, nope can't support output on a secondary monitor. Need to use the basic color correct to correct something, tough, use you main work monitor for that.
Have a Black Magic design or an Aja card for video display, too bad, won't work anymore. Work in a TV station and need to output to tape, no way.
This tool is NOT Final Cut Pro, it's iMovie on mild steroids, that's it. If you do Wedding videos, it might be fine, but if you do Movies, Commercials or any TV show work, this soft is useless.
All I know is that Avid and Adobe must be jumping for joy right now. Apple had the leading software when it came to editing, and they've just killed it. Yes it will sell and will be used by some people, but anyone doing any serious work won't.
Strangely they did the same thing with Shake. It was THE industry standard for compositing and they simply abandoned it at it's peak of popularity ?!"