Meh. QuickTime X in its current form is a poor replacement for 7. There are no exporting features, just "sharing" via iTunes (at iPhone, Apple TV and Computer presets), Mobile Me and YouTube. You can't pick the bit rate, codec or size you want to convert to.
QuickTime X is the new iMovie '08.
Apple includes QuickTime 7 on the installation DVD. However, it's not the Pro version. You still have to purchase a Pro key for 7 separately.