About the XML
Everyone who cares about this just go to Larry Jordan's blog here as he was in a meeting with Apple's management to discuss the new release: http://www.larryjordan.biz/app_bin/wordpress/
He explains that the new XML import and export is a NEW format that 3rd part apps have to develop for and incorporate into their apps. There is no importing and exporting of old FCP formats at all. Macrumors just added their assumption to the news story and didn't actually quote anything Apple actually said. All the information on Larry's blog explains what the deal is direct from Apple's mouth.
So if you are trying to import your old FCP 7 projects you should stop wasting your time.
Also the new 10.0.1 versioning instead of 10.1 is because they are going to start version numbering FCP X like OS X. So probably in 8 years there will be a release of FCP X 10.8
Everyone who cares about this just go to Larry Jordan's blog here as he was in a meeting with Apple's management to discuss the new release: http://www.larryjordan.biz/app_bin/wordpress/
He explains that the new XML import and export is a NEW format that 3rd part apps have to develop for and incorporate into their apps. There is no importing and exporting of old FCP formats at all. Macrumors just added their assumption to the news story and didn't actually quote anything Apple actually said. All the information on Larry's blog explains what the deal is direct from Apple's mouth.
So if you are trying to import your old FCP 7 projects you should stop wasting your time.
Also the new 10.0.1 versioning instead of 10.1 is because they are going to start version numbering FCP X like OS X. So probably in 8 years there will be a release of FCP X 10.8