Well. The day is finally here. Final Cut Pro X has been released. Already announced back in the spring, but just to reiterate the price has been cut from $999 to $299, a move that is sure to make Avid and Adobe nervous. You can buy it on the Mac App Store, right now. While no full featured reviews are out yet, Macworld has had an early release version for the past week or so and their excellent video guy Gary Adcock has written a first-look about the new application:

Apple has revamped Final Cut Pro's hands-on user experience in three major areas: Editing, media organization, and post-production workflow. New tools such as the Magnetic Timeline, Clip Connections, Compound Clips, and Auditions provide a smooth, intuitive editing experience. With the rise of data-centric workflows and tapeless video recording, organizational tools such as Content Auto-Analysis, Range-based keywords, and Smart Collections work in the background to automate formerly tedious and time-consuming manual processes. Post production workflows now offer customizable effects, integrated audio editing, color grading, and a host of streamlined delivery options.