if memory serves me right it records a h264 file. If you don't have "Mpeg stream clip" get it. This allows you to convert the file to a apple codec. Now I prefer transcoding to APPLE 422 LT but you can do whatever you want.
After you convert your clips just import them into your project.
apple pro res 422 you have to buy from apple?? with final cut 7?
I got final cut express installed on a new computer. I know I will need to really upgrade to pro 7 at some point in time... i just don't have $999.99 sitting around doing nothing
See if you have AIC included.. If not use h264 and save your projects appropriately and it shuol d be no problem to export whatever codec you may want in the future. Mpeg stream clip is good for codec conversions on the fly...
Ps, you didn't mention FCE, only final cut, personal finance notwithstanding... Good luck, and google is your friend