Not to hijack the thread too badly...
I was a Macromedia employee during the entire Final Cut development cycle (though I was on a different team). It was code named "Key Grip" during the development. The team working on Key Grip was very dedicated and wanted to create a 1.0 that was a serions contender in the marketplace. This desire for a quality product and perhaps some other factors that I wan't privvy to, caused the product to keep slipping and miss release date after release date. There was considerable good-natured ribbing within Macromedia's ranks about the Key Grip team's inability to deliver the product on time.
About this time, the new president of Macromedia, Rob Burgess, was refining the focus of the company away from the "we're a multimedia company" and was driving it straight into the "Macromedia is a web company" direction. As a result of this refocusing, Macromedia products that weren't strongly web-centric were either feature enhanced to be more so, killed, or sold. (For example, a bunch of features were shoveled into FreeHand to make it play nicer with Flash and there was a tepid effort to market FreeHand as a "author once; publish anywhere" tool for a web designer.) This refocusing all dovetailed nicely with Apple's desire to move into video and I don't recall exactly when, but the entire Key Grip code base (and virtually all of the development team) was sold to Apple.