Justin…
When you upgraded to the G5, did you by any chance transfer data from another Mac via the Apple FireWire ‘target disk mode’ (where you connect one machine to another with a firewire cable)? Just wondering…
I have upgraded 3 different G5’s in the last year using the target disk mode, and all ended up with applications performing very strangely. Reinstalling a clean system AND reinstalling all apps solved the problems. One of the machines had your exact problem where FCP would do very strange things in the timeline.
John
John Christensen
cdesign@airmail.net