What Final Cut No Longer Does

UPDATE: David Pogue did this blog post with his review.

Richard Hart of Academy of Art University School of Multimedia Communications has been playing with Final Cut Pro X. His report:

• You can no longer import any previous Final Cut Pro projects in FCPX. (Yet you can port them to competitors’ products.)
•  You can no longer import or export Edit Decision Lists, markers or any form of XML.
•  You can no longer import Photoshop files with layers.
•  You can no longer use Final Cut Pro 7 plugins.
•  You can no longer assign tracks. No more video tracks or interview on Track 1, narration on Track 2 and music on Tracks 3. No tracks.
•  You can no longer capture from tape using SDI, only Firewire.
•  You can no longer control those Firewire devices.
•  You can no longer Batch Log and Capture.
•  You can no longer export to tape at all.
•  You can no longer use Xsan or any other network volumes.
•  You can no longer output broadcast quality (true video), not even to an AJA Kona, Blackmagic or Matrox card.
•  You can no longer use a project on more than one machine, so
•  You can no longer collaborate with other editors.
•  You can no longer make a frame a custom dimension.
•  You can no longer lay out your own workspace.
•  You can no longer use more than one timeline per project.
•  You can no longer organize your project media. No Bin columns, only devault folder structure.
•  You can no longer set your own Scratch Disks or folders to store renders.
•  You can no longer “Reconnect Media” or see a thumbnail if it is missing.
•  You can no longer see the path to the media if its drive is disconnected.
•  You can no longer rely on an Autosave Vault and
•  You can no longer save your project manual manually.
•  You can no longer use Multicam, one of the best camera tools in the industry.
•  You can no longer use a color wheel to color correct.
• Apple has discontinued FCP 7, Studio and Final Cut Server, and
• Final Cut Studio’s installer is PowerPC and, hence, will not run on Lion.
• FCP will run on Lion, but you can’t install it on Lion.”

So, it would seem Apple decided to get itself out of the professional video business.