I love Magic Bullet Looks. It's an incredibly creative piece of software that i can't imagine not using on my projects... so not having it for FCPX is a real issue for me. Aside from the bugs that FCPX has, not having access to some of my favourite plug-ins is a real dealbreaker for me. Well, Red Giant are on the case, as you can see in this little video:
Preview of Magic Bullet Looks in FCPX from Red Giant on Vimeo.
So it's another bug within FCPX itself which is slowing the release up. It just makes me more sure that i need to stick with FCP7 for now. However, i'm convinced that in a couple of update's time, FCPX will be ready for some serious use.
If i had to pick one feature to add to it... it would be the ability to save a version of the 'Event' manually anywhere i want at any time...and with all the footage and files it needs to re-open the project. It can't be that hard...and i'd lose less sleep.