my beef with transcriptions in fcp - warranted?

Is it weird to anyone else that something as basic + essential to documentary filmmaking -- transcriptions -- should be completely unsupported within Final Cut? I mentioned this to a more seasoned doc guy who thought it was high hilarity that I thought one should be able to take timecoded, printable notes within the program. You can't even let a clip play in FCP and switch OVER to a text based program to do your transcription. We don't have the budget to run two computers at the same time, one on FCP and one running Word or TextEdit or whatever. Am I missing something here? Do we really have to burn bleeping quicktime movies with burned in tc for people? It seems... archaic. Like, first generation of NL editing program issue.

So anyway, I've been searching for an affordable transcription program that can recognize clip time code. MovCaptioner works great but you have to do one clip at a time and it starts every clip at zero no matter what. Ugh. Advice much appreciated + by the way, thanks so much to the Creative Cow community for your help thus far. I'm new to the process of cutting a big honkin' project + I've learned a lot from y'all.