Well, reinstalling Compressor and Motion and then doing the updates worked to fix that no presets problem.
It took about 2.5 hours and 8 of the install discs.
Funny thing is that after I trashed all the Compressor and Motion files, the FCS2 Installer had checked all the programs on for reinstall and all but Motion was greyed out (couldn’t turn on or off), but only Compressor, QMaster and Motion had a file size associated with them. Nonetheless, when all was done, Software Update indicated that Final Cut Pro required the update to 6.0.1. Well, it already was at 6.0.1. which makes me think the installer installed 6.0 overtop of 6.0.1 and that could spell trouble–we’ll see.
BTW. I didn’t have snapping guides (or any guides) before. I thought that was a related issue, but turns out (after reading the release notes–rarity) that this is a known issue and I need to hit the “n” key twice. Except I found that I really only needed to hit it once.