I stumbled upon this thread when I had the same problem. The problem for me was that another user changed the “Waveform Cache,” “Thumbnail Cache,” and “Autosave Vault.” This caused FCP to crash on launch, without an error. Trashing the preferences did not fix this problem, which still seems wrong to me. I probably just deleted the preferences wrong, but if this happens to anyone else try the above.
Oh yeah, I was able to change the above settings by making the previous Scratch Disk offline. System Settings opened up before the usually crash.
Brian