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Wow. I'm simply amazed at some of that. No support for previous formats at this time, everything is stuck in one window - and that's something I loved about the Mac OS and not about Windows (at least 9x-XP). No setting cue in/out points when capturing from tape. "Events" is the only way to organize media - that's incredibly horrible. No multicam editing - that's incredibly messed up. My wife has a project that is in multicam, but we haven't purchased FCP yet because we knew v.X was coming out... but now we'll have to buy an older version or wait for X.1 or something like that.
Wow. I expect this sort of stuff from Microsoft, but not from Apple.
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It's been a while since I was involved in this sort of workflow, but from what I read this sounds a bit disastrous at the professional level.
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No multicam editing could definitely be a deal breaker for my office as well. Not sure what kind of support there is for that in Premiere, but since we have the CS5 collection switching over may be in our future. Unless of course there is a reasonable workaround...
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It seems like they're killing off one of the best pro apps they've ever had and replacing it with a prosumer app.