AFAIK, you can't upgrade with the Academic version. So for example, if you have Final Cut Pro HD (4.5) Academic, and you want to upgrade to Final Cut Pro 5, you have to pay full price again, the upgrade pricing doesn't apply. Also, the new Final Cut Pro Studio is $699 for educational customers. I don't know why they increased the academic price but not the regular price, but they did 🙁. I bought the old one a few weeks ago for $499, and I'm actually glad I did, because I don't think the upgrades are worth the $200 more you have to pay now.