Pretty easy question: what, in your opinion, is the biggest problem, and best feature, of FCP X as it stands today? (And if we could let lack of EDL, OMF, AAF, tape and multicam etc. out of it, that would be great, as we all know these things are missing.)

Best: For me, I have to say I like the idea of the range-based key-words so far.
Worst: Precision! I can't seem to wrap my head around how everything changes when I edit comoundclips, add transitions etc. while trying to keep things from changing relative to music track that is the background of the particular thing I'm doing right now.

I really enjoy parts of FCP X, but hope they update and rectify some key problems pretty quickly, so I can do more than play with it.

Best: Auditions. It's handy being able to have alternate takes on the timeline which one can switch between. I like that they can be different durations, with everything else moving to accommodate, although I can imagine some tricky planning with connected clips so the right things stay in sync.

Worst: Trackless timeline. There are just some things that tracks can do better than compound clips and storylines. It's much easier to keep things organized when you can assign them to a specific track that can be activated and deactivated throughout the whole sequence.

Well it's fast, I'm certainly cutting quicker than FCP7 already after only a day, rendering is quick and I'm actually starting to like the skimmer for viewing footage. Keywords are very useful too.

I'm being reckless and starting a large project with it in a weeks time, I'm sure I'll have plenty to add to the worst during that!

Best:

Keyword organizing. Much more powerful organizing capabilities especially since any clip can have multiple keywords attached. Keyword a single clip to make a Collection and dump other clips in and the get the keyword as well. I like attaching keyword to a range as well.

Trackless timeline. I've been waiting for this for over 20 years since first using Avid in 1989. I focus on editing, not the rigidity of organizing what goes on what row. It actually makes organizing easier since I can use either Connected clips or Secondary Storylines (tracks) as needed.

Connected Clips. Attached media travel with the clip. Great for easy shifting things around that need to stay with the connected clip.

Compound Clips. The way nests should have worked all along. One can open them in their own Timeline or simply break apart back in to the Primary Storyline as needed.

Magnetic Timeline. I know longer have to worry about throwing things out of sync as I move things around especially if the timeline gets complex.

Precision Editing. How trimming should be. Complex trims become very easy and very visual.

Worst:

No Precision editing in Secondary Storyline. This is a must for Secondary Storylines to be a true alternative to tracks.

No import of FCP7 projects.

Noise reduction not as deep as SoundTrack Pro and no pop and click fixing.

Transitions don't have Start or End at Edit.

Color board doesn't have motion tracking for Masks. This is a must since Color is gone.

No Multicam (but coming in an update).

No native support of XDCAM EX yet.

Title tool only tied to Motion so there's no easy open ended adding of rows with different fonts.

Precision Editor doesn't have two up when trimming with keyboard (two up only with mouse trimming).