I have used both FCP and Premiere Pro, and while Premiere has taken a back seat to FCP for quite a while it has stepped things up as of late. I recently received my copy of PPCS5 and can't say I am disappointed. If you have a system that can utilize its new Mercury engine processing you can fly through editing and make used of all of CS5. I will also add that native h264 editing is possible, which is a first in digital editing, potentially taking one step out of the process (though I also endorse MPEG Streamclip for converting, since converted footage will likely still provide faster editing depending on the project).


While FCP will likely still remain the frontrunner in video editing, I will say that if you use a lot of Adobe software in your video workflow (AE, Encore, PS) then it can save you a ton of time.


As you mentioned though, not a cheap investment, but the same goes for almost all high-end editing software.


Jordan