because of the premiere being its own feature set and fcp being its own and the facts the cards are well integrated into the applications, it is hard to seperate the two…many decisions are based on platform or applications….and then you could debate which editing suite from apple or adobe suits your needs, etc…
but i would consider hardware scaled upconvert, downconvert, HDV, DVCPRO HD scaling for deck broadcast quality to be big deals and 3rd gen…so for upconvert alone, how many hundeds of dollars per hour of videotape do you pay? own your own terranex yet? need to match SD assets to HD or HDV you just shot? happen to be an apple nut? well, maybe that one makes sense….
the xena HS is HD/SD dual rate and does 10 bit uncompressed, throws a broadcast monitor signal, but what i am looking forward to is the Premiere Pro 2.0 integration.
you really ought to find a reseller with a decent demo artist if you want to schedule a showdown or how it works for you.