jmf,
All I can say is good luck to you. Apple may have released a fixed version by now, its been a week since they pulled 7.0.4 originally. However, do keep in mind, most of the problems are not with standard operations, the issues only appear when it comes time to output to tape or when exporting from the timeline. Quicktime files created in the broken 7.0.4 were two frames out of sync with exports of self contained movies from previous versions of Quicktime, and an export under 7.0.4 would take three times as long as normal as well. In addition, Edit to tape would not play continously, however, after reverting to 7.0.1 and then upgrading to 7.0.3 (Apple’s posted fix), Edit To Tape of the same material would play continuously. So, if you suddenly encounter these issues don’t say I didn’t warn you.
DRW