Firewire 800 will not push 4:4:4, not by a long shot. Was it transferred to Pro Res 4444? I don’t believe you can easily work with that format with about at least Final Cut Pro 7. You will want a RAID setup, and not a small one like a Lacie Big Disk or G-Raid, you want a four way stripe, or a RAID 5.
At the very minimum, upgrade your system to Final Cut Studio 3 (for Final Cut 7). Since you’re not going to film out, you might consider converting your footage to Pro Res or Pro Res HQ, since the data rates are considerably lower. They’ll still be hard on a firewire drive, but more manageable.
Richard Sanchez
North Hollywood, CA
“We are the facilitators of our own creative evolution.” – Bill Hicks