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Ok, so is the general consensus that if you are doing video editing with Final Cut Pro, it is better to save the $500 and spend that on uping the the RAM?

I would say, yes. And that is exactly what I did. With the money saved, I maxed out my RAM, picked up a bigger/faster HD and bought a hamburger :D

FCP and PS work great and relatively quickly. I don't pick at my guitar as often or for long while I'm waiting for something to render.
 
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