Thank you for the quick response. I knew you could edit HD on FCP, maybe I should re-phrase my question.
What hardware do you recommend? I would be digitizing the material from a Sony HDWF 500 VTR. Would the AJA I/O HD be the way to go, maybe the Kona 3 card or how about the Blackmagic Eclipse?
I did a Carbon Copy of my HD and then proceed to install FCP Studio 2, everything went well, I installed on top of FCP Studio 1, and it just erased previous versions and installed only what it needed to.