What'd Apple leave out of the much-anticipated update to the Final Cut Studio suite of applications? There's a nice list over at Premium Beat (http://stvn.so/kZKbQI) that sums it up quite nicely. The biggies include the lack of batch capture and no support for those of us with more than one display connected to their editing computer.
That second concern is addressed to a point by the ability to move one's media management off to the second display. If you've got a big, honkin', movie theater of a primary display and a more diminutive secondary display, that might work. But if I were still on my G4 with two 15" displays, that'd be tortuous.
An option for the heavy motion graphics users out there would be to run Motion (or After Effects, Photoshop, etc.) on the second monitor, maybe with some help from the revamped Spaces in Mac OS X Lion. However, I assume this one will be addressed sooner or later so that Al Gore can keep making use of hishalf-dozen monitors.
One thing that didn't make an appearance that surprised me was the lack of iPad integration. While everyone seems to have their own opinions on Adobe's recent foray into "iPad as input device" apps (http://stvn.so/mBJZkl), few can argue that they don't add a myriad of options to the desktop version of Photoshop.
Though the slick new interface will be nice, and that magnetic timeline looks like it might be heaven on earth, I had still somehow hopes for more. Maybe, as so many are crying at this point, Final Cut Pro X is really version 0.1 and we'll see a host of new features (and the return of a handful of classics) soon.