Final Cut Pro 6.0.2 and newer has the EX codec that's required to display and edit the footage from the EX1 and EX3 cameras. If the FCP sequence settings match the EX clip settings then there is no "render time", if this is what you're referring to. This means you can play back and edit transferred EX footage in real time right away. Adding effects to EX clips within FCP will result in the same type of rendering times as other Long GOP codecs.
You can set your sequence to the EX codec but have it render in AppleProRes (you can do this for HDV too). This means there's no GOP reconform while editing/rendering FX. Easy setups don't default to this so you click on your Sequence/Settings/Render Control/Codec/Apple ProRes 422.