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
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.