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I would just wait.
Im not sure why everyone is talking jumping ship, etc at this moment. FCP 7 still works and its only been two days so why not wait for the dust to settle or at least till the first update is released to see where apples head is at?
I understand people have businesses to run, etc – Hell i work at a major network which uses FCP 7, AVID, SMOKE, etc etc, and no one here is really freaking out yet. Imagine if they didnt release anything at all, we’d all still be in the same boat as we were last week, and would be continuing to work as normal. Still having to convert to Pro res ourselves with our un magnetic timelimes, etc.
Most of the work i do at work is on the Avid’s but were still on version 3. For home and freelance i use FCP 7, i mean, honestly if you cant be versatile and switch back and forth between NLE’s well thats a the biggest problem in itself. That said, am i gonna go home and buy MC 5.5 for freelance work? Hell no. I’ll use FCP till it wont run anymore, then i will make that decision based on where the market is at that day, not where i think it will be. I just like FCP 7 better, but thats all personal preference.
I’ll probably buy FCP x in the next few weeks or try it somewhere else to see if it works for, or is something id want to work with in the future, but for now im gonna keep on keeping on, until my clients and my network forces me to change.