Doh! After deliberating as to whether to continue upgrade stream to FCP 7 or downgrade to a little more prosumer friendly Express, I ran to the Apple store to buy FCE 4 HD tonight. My excitement at beginning a new project tonight quickly burst, as I discovered that it doesn't natively support all the 24P footage I've been shooting on my Panasonic GH2. Who doesn't support 24P these days?!

Even iMovie does. So now I have useless $200 software and will either go back to my old version of FCP or better yet, back to iMovie.
Please advise, if I'm missing something?
Thanks.