I recently had an issue where desktop preview was stuttering on a rebuilt Mac Pro. I attributed it to the graphic card, but today discovered that this is a widespread issue with FCP 7.01.
I found the solution here on the LAFCPUG forums. It has to do with FCP 7.01 only (systems that haven't been upgraded are fine), and is a simple fix: a quicktime component needs to be replaced from the install discs. Five minutes and you're back up and running.
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