Log and Transfer with 35 mbps 1080p30 IMX/MXF MPEG2 to apple pro res 422 proxy

I'm using a intel quad core 2 ghz i7 macbook pro with 8 GB 1333 Mhz DDR3 Memory and a SSD Boot Drive running Final Cut 7.0.3 on OSX 10.7.2. Whenever I try to log and transfer clips that are over 10 minutes long FCP goes through the entire transfer then gives me a red exclemation point next to the clip in the que and leaves me nothing in my browser or capture scratch folder. I've tried setting me scratch disk right to the boot drive instead of my external, clearing the cache, trashing preferences, changing from pro res proxy to plain 422. nothing works. I'm stuck capturing files 9 minutes at a time and seaming them together with timecode in FCP. very very frustrating!