I had a bear of a time and lost 1.5 days with this. In essence, on a new 24-inch iMac with latest Leopard, FCP 6.0.4 and XDCAM Transfer 2.7, the FAM drivers were causing panics on boot unless I did a safeboot. I resolved the issue by reinstalling my OS (the computer was new) and installing Final Cut Studio and its updates before (this is the crucial part) installing a CUSTOM install of XDCAM Transfer 2.7 which omitted the FAM drivers and the FAM driver preference widget. The “CUSTOM” installation options are accessed while installing XDCAM Transfer 2.7, but it is not so readily apparent — look for a button on the lower edge of the installer window as you go along!
FAM is wholly unnecessary once you have the BPAV (or whatever) folder structures on hard-drive, as I had done by simply copying them over onto a laptop with the SxS drivers installed. FAM has bugs, it seems, that afflict at least SOME modern hardware/OS combinations.
I hope others might benefit from seeing this.
tone