Macworld.com has just published my review of Final Cut Express HD. It’s a good revision, though less compelling for people who already use Final Cut Express and don’t plan on working in HDV. But I was happy to see that the iMovie support has improved:
Final Cut Express HD also features improved iMovie project import, which grabs transitions properly instead of stripping them out. However, it’s still a good idea to remove titles and effects from an iMovie HD project before opening it in Final Cut Express HD if you want to edit their settings – they import as normal clips with the text or effect rendered to the footage, not as separate editable elements.