I bought FCP X because I would really like to take advantage of the 64 bit processing for compression. My initial impression is that it is very, very fast.
I imported .mov files from my Final cut Server using file>import. Worked very well. I was able to choose an MP4 file from an SxS card but it only imported a green screen which is not exactly what I was looking for.
My biggest problem was converting to a WMV file but i digress….
I will play more tomorrow.