No...FCP will not do the conversion. You must use iTunes.
Shane's Stock Answer #5: Importing music from CD or iTunes
To get music into FCP, it needs to be an AIFF file at 48khz, 16 bit stereo. So if you want a song from a CD, you go into the iTunes Preferences, click on ADVANCED and set this up under the IMPORTING tab:
AIFF
Sample Rate - 48.000 kHz
Sample size - 16 bit
Channels - Stereo
*If you have an mp3 that you want to use, then you can convert it thru iTunes as well. As long as this is chosen as your import option, when you select a clip and click on the ADVANCED menu, CONVERT TO AIFF will be an option.*
If the piece of music you want to use is something you purchased thru iTunes, I'm afraid I can't help you there. There are copywrite issues that prevent files from being converted into the format that FCP can recognize.
Shane
