The good news? Well, there's some:
Can Final Cut Pro X export XML?
Not yet, but we know how important XML export is to our developers and our users, and we expect to add this functionality to Final Cut Pro X. We will release a set of APIs in the next few weeks so that third-party developers can access the next-generation XML in Final Cut Pro X.
Does Final Cut Pro X support OMF, AAF, and EDLs?
Not yet. When the APIs for XML export are available, third-party developers will be able to create tools to support OMF, AAF, EDL, and other exchange formats.
Phew! It's still confusing that those supports weren't built in out of the box, but at least they're coming soon.
The bad news, though? Final Cut's never going back to the Final Cut you remember. And projects you were working on in FCP7 can't be imported to FCPX.