I see this thread went dead last Christmas, but I’m having the exact same problem – no “Blu-ray” on the Share menu in FCP and no blu-ray burning in Compressor. Otherwise, FCS3 appears to be working fine on my dual G5. Had to jump a few hoops to get there, but it works fine.
Was ANYONE able to do blu-ray burning using this unsupported installation of Final Cut Studio 3 on a PowerPC Mac? I’ve found several posts noting this problem and I assume this is now a known problem, along with the lack of AVC Intra due to that being Intel only. I suppose the ability to encode to H.264 for blu-ray might also be an Intel-only capability?