Fox_m,
I have to disagree with your scourging of FCP X color board. I have used both 7 & X, and for what the programs offer, I find X way more powerful for adjusting exposure, color correction, and then grading. The 3 way color corrector is just not as great, and it isn't a RGB color space either, but X has it. If you know Apple Color, and want to round trip to it for your FCP 7 project, then that is great, and better. But X has Da Vinci Resolve (lite), and it's free if you are outputting to HD resolutions, and version 9 was just announced and on its way out. It's in Beta now but real soon out of beta
Back to the FCP X color board. It's very intuitive, and with proper knowledge of manual color correction techniques, and the cropping tool to zoom in on a face for eg., and the scopes, you can very easily take out a color cast, and neutralize a color. Then with a secondary color correction, by clicking the color plus button, you can put a grade on it. I do like the color wheel too, but not that much in 7. I like it in Apple color though, when I have a lot more other options to go with it.
Bmann.