Pro X

I initially heard some great reviews about Final Cut Pro X from my classmates before it came out. Then it finally came out and all I read online were horrible reviews, including one saying this was "Apple's worst release in history." Well, today I finally got my hands on it. Of course, I can't fully understand the program until I actually edit with it but I got the gist of it from the owner.
It's definitely not better than FCP and it falls short on a lot of things. The backlash on Apple happened because editors were expecting something better than the old version. Here's a list of what's missing aka Cons:

• Chapter Markers
• Limited Export Settings
• No Export for Hi-Res JPGs
• No Support for EDL
• No XML Import
• No OMF export
• No Native Support for Red Raw files
• No Multicam
• No Capture from Tape or Output to Tape
• Limited Options for Arranging Your Workspace
• No Native Support for Third Party Plugins
• Support for External Monitoring
• Inability to Open Projects Saved From Previous FCP Versions

Pros

• Renders in background
• Synchronize clips feature
• Keyboard shortcut customization
• Full screen mode
• Better support for DSLRs
• Preview effects on clips in real time
• Improved audio editing
• ColorSync
• No more "Log & Transfer"
• $300

This will never be a complete list until I actually own the program and used it for myself.

Overall, Final Cut Pro X is a watered-down version of the regular Final Cut Pro and is not meant for professionals. I don't think Apple should get horrible reviews on this product from people that are not meant to use it.