I don't see why you couldn't run final cut from an iPod. My Power Mac crashed last week and I was fortunate enough to have backed my entire HD up on the ipod. The best part was that I was able to start up my machine straight from the iPod HD and print my project paperwork in time for my meeting, which meant that the OS and all app's were running from the iPod itself. it would be interesting to see if the iPod would run final cut, because I now know that it will run ProTools and OS 9.2 on it's own.
sorry guys, i meant running FCP off the iPod as a hard disk (what would be the point of running it on its little screen?). thanks for the info, i'm kinda cheap and need more storage for FCP and just wanna use a new iPod i'm gonna get one of these days...