Uli, thanks for trying to figure this out..
Yes, exactly, I get an image but it won’t play. (Also just realized I have the same problem even with DV!!!) Very strange. I’ve been using FCP for 7 years and never had this problem before. I mean even with a G4 Powerbook, I had no problems with this..
As for the drive, I have a SATA drive in a eSATA enclosure and have been editing HDV 24p with it for a while, have had no problems so far but definitely going to RAID soon.
And as I am having the same problem with every codec, I am pretty sure it’s not a drive speed or graphics card problem (even tried it with OfflineRT PJpeg)
Bizarre, bizarre! I am offering a free virtual beer to whoever can figure this out! 🙂
Thanks guys.