I was, in OP, just kidding cause
“Projects in Aperture are called Events in iPhoto. Likewise, Events in iPhoto are called Projects in Aperture”
is pretty Alice in Wonderland for two Apps that have been married at the hip.
Bottom line: these are just folders and sub-folders that can be named whatever you like. What’s in the library? Media. It’s a media folder, just like we have media drives.
Libraries have been the database name for a collection of stored data in the finder for a long time. Many Apps can only open one library at a time. FC and Aperture can open many. So the libraries become Master folders or collections of data that you wish to open when you work on a given “project.” To me that makes them FC Project folders even if they contain more than one related project.
The purpose of the library was so end users who didn’t know what they were doing wouldn’t start moving files out of them. Leave that for the app.
BTW many apps are databases. In spreadsheets, I don’t see anyone renaming columns rows and cells. And each use of the spreadsheet app produces a document. A spreadsheet document. Or perhaps an Excel document or a Numbers document. That’s the spreadsheet version of a timeline.
And these are stored in folders on my hard drive as I wish depending on my needs. I have master folders and sub-folders.
I like having each library be one project or perhaps several related projects (three performances by the same band). That becomes crystal to me when I name it. I don’t mind knowing that the actual container is a database ‘library’ under the hood. But a timeline is a timeline and its a beautiful name for it. It’s linear in a nonlinear world.
Mac Pro, macbook pro, Imacs (i7); Camcorders: Panasonic AG-HPX170/AG-HPX250P, Canon HV30/40, Sony Z7U, VX2000, PD170; FCP 6 certified; write professionally for a variety of media; teach video production in L.A.