While you can use Final Cut Pro 7 for a lot of basic video conversion/exporting, the latest version of Compressor (an upgrade from 3.0) has a few added bells and whistles that will help make your life easier. While the interface has always been a bit clunky (perhaps due to a bit TOO much of an emphasis on drag and drop simplicity), the latest version incorporates many new codecs for mobile phones, youtube, blu-ray, and so on. The preview monitor is pretty handy as well for seeing what your project will ultimately look like. Integration with Final Cut Pro is seamless, and with one click on "Send to Compressor" from the File menu in Final Cut Pro, the program will launch, and open up whatever sequence you're working on. The biggest all around plus is the ability to run it in the background as you go back to work in Final Cut.
Need a youtube version and a DVD of the same video? No problem. Batch exporting here is a breeze, and you can line up several sequences into your Compressor queue and step away for lunch.
The biggest disappointment out of the bundle is DVD Studio Pro 4, which hasn't been upgraded since the last version Final Cut Studio. While DVD Studio Pro was somewhat of an industry standard in DVD authoring a couple years back, it still lacks the capability to author a Blu-Ray disc. At the time of the release of this Final Cut Studio, Blu-Ray was already the victor in the HD format war, and considering you can burn a simple Blu-Ray (with no menus) straight out of the timeline in Final Cut Pro 7, I'm not sure why you can't here. With an increased demand for Blu-Ray production, you'll be forced to turn to third party software if you want to keep your client happy.
