Though the new educational pricing is better than nothing, it is still quite a bit lacking compared to their previous options. In the past, an institutional license for the $999 FCS was only $299, and you didn't need to buy 20 licenses. ELP licensing was even better, with an annual license (including free updates) costing about $100 per seat in very small quantities like 5 (obviously, larger discounts were given for larger orders).
I don't know if $197 for FCP, Motion, and Compressor is as attractive as say, $375 for the entire Adobe Production Premium, or $299 for Avid Media Composer with 4 years of free updates.
Also, correct me if I'm wrong, but it looks like they are still not offering an individual educational discount (though their FCS3 discount was pretty lame too).
Professor, Producer, Editor
and former Apple Employee