Though Final Cut Pro X is billed as an upgrade, it’s really a totally new program in most respects. New interface to learn, new plug-ins, new project files, no looking back for Apple. So if you’re a Final Cut Pro 7 editor, you have to choose a new editor.
The two most logical choices are FCPX and Adobe CS 5.5, which I compare in this article. Interestingly, Premiere Pro shares a common interface with FCP 7, can load FCP 7 projects and runs most of the same plug-ins. Heck, Premiere Pro is a more natural upgrade to FCP 7 than FCPX!
Think not? Read my analysis here.