-markjones05
Well, as one who used to use FCP 1, 2, and 3 and now has bought FCX for my home system (I'm still attending ChiFCPUG meetings), I may be able to shed some light.
First off, let me disclaim that I don't know everything, but I'm sure some other member here will fill any gaps of mine
The first thing the Professionals will tell you is that FCX is not a Pro product.
1. FCX is DV only, FCP can use HD, Secam, Film, as well as DV.
2. FCX's color corrector is two-channel, not FCP's three-channel
3. No Batch Capture in FCX, only Capture Now and Capture Clip.
4. (big one) Only Motion and opacity is keyframe-able in FCX. For example, in FCP one could keyframe effects like Blur to do a focus-dissolve.
5. No plug-Ins with FCX, though you can add Effects.
6. You can swap project files between FCP and FCX
as long as you don't use effects or plug-ins from FCP that aren't in FCX. Otherwise it won't open.
FCX
is FCP - it's the same code. The canned countdown still reads "FinalCutPro". The apple developers who made FCX literally took FCP's code and removed pro features like those mentioned above. If you are familiar with FCP the transition is easy - barring any missed features of course.
You still have incredible control over your video, really shockingly cool stuff. I still mutter "I can't believe I'm doing this at home on my own machine". Compositing is stellar, and the motion stuff is really handy. Also the speed controls are excellent as well, they, like FCP blend intervening frames to actually look like you recorded the shot in faster than normal framrates. Not the iMovie jitters.
Aside from the inability to keyframe effects, I don't feel any difference. Exept there is $700 extra in my checking account. I can live with that.