Early Final Cut Pro X Response Mixed, Updates Coming

Earlier today, Apple launched the much anticipated Final Cut Pro X (FCP X) to the Mac App Store. Originally described as a "dramatic and ambitious" change, it represents a complete rewrite and reimagining of Final Cut Pro, leading to some apprehensionamongst professionals. 

Since the initial release, several walkthroughs and impressions have been posted across the web. Like the App Store ratings (shown above), the response has been mixed. CreativeCow offers their first look and points out that Final Cut Pro X is not an upgrade to Final Cut Pro 7, but is a brand new app. They start by stating that FCP X is "not yet" for the professional editor and claims Apple knows this and updates are to be coming quickly:

Apple has been very specific, that this is not the final state of FCP X. Features are expected to be added quickly, via the App Store, with some of them waiting to show up natively in OS X Lion and with support for Thunderbolt.

Philip Hodgetts provides an extensive blog post in question and answer form about what is and isn't included in Final Cut Pro X. He specifically reveals upcoming features that Apple has told him are coming. These include: 

• "Multicam will come in a future release, when Apple decide[s] how best to implement it within the new application and architecture." 
• "As of Version 1 and today’s release there is no direct import capability for [Final Cut Pro 6/7] projects. My understanding is that there will be an Apple-provided utility for importing XML from older projects to Final Cut Pro X." 
• "the Apple folk made it abundantly clear that the ecosystem was very important to them, and that there will be a new, and much improved, replacement for the current XML workflow." 
Larry Jordan who has been frequently quoted for his early comments about the Final Cut Pro X also weighs in. Jordan points out several of the improvements and disadvantages of the new system. He also points out that Apple is planning a quicker upgrade cycle for Final Cut Pro than they have in the past now that its in the App Store:

In the past, Apple used a 18 month, or so, cycle between updates. Now, Apple is telling me they are hoping to do an update once or twice a year.

Ultimately, despite the limitations, he expects that within the next 18 months practically all Final Cut customers will be running Final Cut Pro X due to the overall improvements.