I've tried to read through the entire thread but gave up at page 13, I think, due to all the whining.
I've been tinkering with editing in iMovie, FCP4 and lately FCE4. Once FCP got bundled in to a studio package, me being able to purchase my own license, rapidly disintegrated. I had to stick with iMovie, which I think lost the plot when it changed it's interface so moved to FCE which was a familiar interface. But, it doesn't have what I need.
I film concerts for a band. I mostly do this with one camera. Then pull all the footage of a tour in to FCE and edit that. FCE won't let me edit multi camera shots. FCP does. I hope FCPX still do as well. I put together a video for the band that is now being used to promote the new live cd and because of my limited knowledge and the limitations of FCE it took me a long time to get it done. Would have been way quicker with FCP and looking at FCPX demos - even quicker still.
Color correction in FCE is, IMHO, diabolical *****. It is hard to work with despite the manual saying it's dead easy. If elements of color has been built in to FCPX I'm all for it!
I don't need motion. I haven't been able to wrap my head around LiveType (is that still around). I most certainly don't need shake. And soundtrack pro - well, I can get access to studios with protools in a heartbeat. So basically, being able to buy what I need for $300 instead of having to dish out $1500 (here in sweden) for bundle of software where the majority I have no use of is for me a godsend. And if what the presenter at NAB is saying is true that it scales to work even on macbooks, there is no need for me to change my macbook pro from 2010 in to the newer model. (although I wouldn't mind one).
I'm by no means a pro camera person or editor but I come from a family of actors and film-makers so have spent enough time on location from day dot constantly asking questions and learning so I have some grasp over the workflow (dad had the old film editor in our house and tried to explain to me how it worked when I was about 7, which is early 70's.) But having done this at the age of 40+ and realizing editing and filming is fun and dang, I would love to do more of it with better tools. And that's where this new version of FCPX comes in.
On a different note: Kevin Brook, your post on page 5 had me fall in love with you.